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

 

Ballance’s Financial Results Are A Positive Sign For NZ Primary Sector

New Zealand is looking to, and counting on, the primary sector to underpin our economy. The sector provides opportunities for thousands of kiwis every day.

Owned by 19,000 farming families, Ballance Agri-Nutrients is well positioned to support the sector to drive the prosperity of NZ with a strong balance sheet and another year of consistent farmer and grower rebates. Leading into 2021, the Ballance team continues their unrelenting focus on nutrient leadership and leading by science.

“I want to acknowledge all the individuals that come together to form the Ballance team, we are fortunate to have an extremely talented and passionate group focused on delivering value for our shareholders, customers and all kiwis,” says Ballance Chairman, David Peacocke.

“The 2020 financial year has been like no other, with COVID-19 and extreme weather events from floods in the south to drought in the east and north. We’re entering a new era, and one thing is for sure, we can look forward to a renewed understanding of the value of the primary sector to NZ global economic future and reputation,” says David.

Ballance has confirmed a farmer rebate of $45 per tonne for the financial year ending 31 May 2020 – returning a total of $54 million to our farmer-shareholders. Profit Before Rebate and Tax is $68.9 million.

Total sales volume for the 2020 financial year, including nutrient products, animal feeds and industrial ingredients, were 1.6 million tonnes.

In FY 2020 Ballance launched SurePhos, an environmentally sustainable product reducing phosphate loss by up to 75% and the Green Hydrogen project received an offer of $19.9 million from government. Through collaboration with customers, shareholders and Government, Ballance has also created and delivered MitAgator, My Pasture Planner, SpreadSmart, SustaiN and PhaSedN.

MyBallance, the company’s online platform that brings their suite of innovate customer tools together, continues to enjoy rapid uptake with 9000 plus users.

Modern agriculture is dependent on inputs from fertiliser and other sources to maintain productivity. In 2019 NZ export revenue attributable to the primary sector was over $45 billion. About $19.8 billion of this revenue is dependent on access to nitrogen fertilisers. Similarly, the employment of almost 74,000 people in NZ is dependent on nitrogen fertiliser.

The Ballance purpose is very clear – Together, creating the best soil and feed on earth.

“We care deeply about the land, nutrients are needed as part of NZ’s sustainable farming future,” says Ballance CEO, Mark Wynne.

“Nutrients, such as nitrogen and phosphate, replenish and nourish the soil (whenua). Our role is to ensure the right nutrients, in the right amounts are available at that right time to ensure good quality grass and crops.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

The Narrow Divide: New Poll Shows Tight Political Race For SME Votes

In a major turnaround following nearly a decade of MYOB election polls, Labour is currently the preferred political party of New Zealand’s SMEs, with 38% of SME owners and decision makers intending to vote red in the upcoming General Election, ... More>>

Reserve Bank: Further Easing In Monetary Policy Delivered

Tēnā koutou katoa, welcome all. The Monetary Policy Committee agreed to expand the Large Scale Asset Purchase (LSAP) programme up to $100 billion so as to further lower retail interest rates in order to achieve its remit. The eligible assets remain ... More>>

Retail: Post-Lockdown Retail Card Spending Picks Up

The rise in retail card spending was boosted by sales of furniture, hardware, and appliances, Stats NZ said today. “For a third consecutive month, card spending on the long-lasting goods (durables) remained at higher levels than last year, after ... More>>


Contact: Business Drops, New Generation On Hold

New Zealand’s second-largest energy company Contact Energy (‘Contact’) released its full year financial results for the 12 months to 30 June 2020 (‘FY20’) this morning. More>>

Mining: OceanaGold Announces Receipt Of WKP Mining Permit

MELBOURNE, Australia, Aug. 6, 2020 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the 'Company') is pleased to announce it has received the mining permit for Wharekirauponga ('WKP') on the North Island of New Zealand. ... More>>

ALSO:

Economy: COVID-19 Lockdown Has Widespread Effects On Labour Market

In the June 2020 quarter, the seasonally adjusted unemployment rate fell to 4.0 percent, down from 4.2 percent last quarter, while underutilisation rose, Stats NZ said today. More>>

ALSO:

NZ Post: New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3

New research by NZ Post into how the COVID-19 response has impacted the way Kiwis shop online, shows online shopping increased 105%* when the country moved into Alert Level 3, and may have changed the way Kiwis shop permanently. Online spend peaked ... More>>

ALSO:

Antarctica NZ: Ice-Olation

Antarctica New Zealand is gearing up for a much reduced season on the ice this year and a very different deployment to normal! Before they head to one of the remotest places on the planet, all personnel flying south with the New Zealand programme will ... More>>

ALSO:

QV Valuations: July House Price Index Illustrates Market Resilience

According to the July 2020 QV House Price Index (HPI) results out today , property values recorded a marginal increase, up 0.2% over the month. This is somewhat of a turnaround from June, after the national index edged 0.2% lower. More>>

ALSO:

Property: Queenstown Rents Experience Biggest Drop In Seven Years

Rental prices in the Queenstown-Lakes district saw the biggest annual percentage drop in seven years after falling 28 per cent on June last year, according to the latest Trade Me Rental Price Index. Trade Me Property spokesperson Aaron Clancy said ... More>>

Seismology: The Quiet Earth

As many daily activities came to a halt during lockdown, the Earth itself became quiet, probably quieter than it has been since humans developed the technology to listen in. Seismologists have analysed datasets from more than 300 international ... More>>

RNZ: James Shaw Says Kiwibank, Not Ministers Should Decide On Investors

Climate Change Minister James Shaw says Kiwibank's decision to stop doing business with companies dealing in fossil fuels is the right one. More>>

ALSO:

FMA: Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More>>

FIRST Union: Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off

(FIRST Union comments on The Warehouse consultation and proposed restructure) 'Unfortunately the Warehouse have done the disappointing thing and used Covid-19 to justify a bunch of operational business decisions that will leave hundreds of workers without jobs ... More>>

ALSO: