Co-op silent on speculation over succession planning.
‘When others are making excuses, we’re showing that it’s not all doom and gloom in this industry,’ CEO James Annabell says.
The co-op reports net profit of $20.4m in turnaround year.
NZ timber manufacturer is poaching market share from hardwood and cedar alternative suppliers, notably out of Canada, and expects to hit $200m in revenue within five years.
The 2018 US-China trade war had only a marginal impact, but now ‘all agricultural exports are relegated to being pawns’, report says.
Debt owed by the wine business has been transferred to the electricity distributor after a covenant breach.
Simon Limmer says supply and demand remains ‘well out of equilibrium’.
Co-op shareholders can look forward to $3.2b capital return next year.
Farm supplies group reports higher revenues and profitability.
Its orchard manager says the industry needs to be careful not to ‘overreact’ after MyFarm fund’s voluntary administration.