Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Pāmu releases first Integrated Report

03 October 2018
Pāmu releases first Integrated Report – returns to paying a dividend

Pāmu Farms of New Zealand (Landcorp) has released its first truly integrated Annual Report for 2018 today.

Chief Financial Officer Steve McJorrow said the 2018 EBITDAR[1] of $48.5 million, announced on 31 August, was very pleasing, and reflected good milk and red meat returns, along with revaluation of carbon holdings (NZUs).

“We are also pleased to be back to paying our shareholders a dividend, which will be $5 million for the 2017/18 financial year.

“But like every other business Pāmu is being measured against a much broader set of objectives and targets today than in the past. It is no longer just about our financial performance - we also want to report on our impact on the environment, the wellbeing of the Pāmu team, the contributions we are making to our local communities, and so on.

“This report reflects a commitment to ongoing reporting of data and issues that are important to our stakeholders. This report reflects the many areas of New Zealand life that Pāmu contributes to, throughout the country and abroad.”
As the companies first truly integrated Annual Report, the company had asked stakeholders what issues they felt Pāmu needed to be focused on, Mr McJorrow said.

“What the feedback shows is that the issues of concern to our stakeholders match with our main areas of focus as well.

“While environmental impact, animal welfare and health and safety all featured prominently - there was also a focus on our impact and input into rural communities, connection with our local and global markets and the ongoing financial resilience of the company.

“The issues discussion in the report gives Pāmu good marks in many areas but also provides us with valuable insights as we move forward, focused on the issues that are material for us and out stakeholders and ultimately our owners – the New Zealand public.”

Mr McJorrow said the year in review had been an exciting one for the company.
“The standout has to be the crystallisation of three years of work which has seen our ground-breaking deer milk product reach the market in New Zealand and Australia. Chefs are raving about the unique taste and composition of deer milk and the future looks very bright for this product. Winning an innovation award atthe 2018 Fieldays was the icing on the cake,” Mr McJorrow said.

“Pāmu continues to look at how we can enhance shareholder value, by not just being a price taker at the farm gate, but adding value right along the food chain.

“The integrated report notes activity in this area, including plans to commence sales of organic milk powder to China in the current financial year, joining exports of Pāmu venison, lamb and wool to global markets.

“We also report on further pleasing progress in areas such as health and safety and people, where we saw reductions in Lost Time injury (LTI) frequency rates, a decline in staff turnover and a reduction in our gender pay gap to four percent, compared to a national average of over nine percent.

“We are working hard to become an employer of choice, and the year under review saw us focus on changing rosters on our dairy farms, to ensure our people get more reliable periods of leave and don’t work too long without a break.

“Pāmu continues to go from strength to strength, and the last few years of intensive refocusing of our business has ensured we have a financially, socially and environmentally resilient business for the future, which is looking very exciting,” Mr McJorrow said.

Click here to view the full report.


Pāmu is the brand name for Landcorp, a Stated Owned Enterprise, and one of New Zealand’s most innovative farmers and food businesses. It is also the name given to the quality products created by the company.

Pāmu is the Māori word ‘to farm’ and reflects the deep connection New Zealanders have with the land, born from respect, and a genuine desire to protect and enhance the environments in which the company works. It’s a proud provenance that stands behind every product bearing the Pāmu name.

[1] Earnings before interest, tax, depreciation, amortisation and revaluation

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Frog Recruitment: Kiwi Workers Reluctant To Make Business Trips Across The Ditch Despite Trans-Tasman Bubble Opening

When the trans-Tasman travel bubble opens today, many Kiwi companies won't be rushing to buy an air ticket, reluctant to cross the ditch to do business. The latest survey conducted by leading recruitment agency, Frog Recruitment of nearly 1,000 New Zealand ... More>>

Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>


Stats NZ: Prices For Transport And Housing Rise In March 2021 Quarter

Higher prices for transport and housing led to a 0.8 percent lift in the consumers price index in the March 2021 quarter, Stats NZ said today. Prices for getting around rose in the March quarter. Transport prices rose 3.9 percent, the biggest quarterly ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>

ALSO:

Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>