Alliance in good shape – Allan Barber:
Alliance has produced a solid result for the year ended 30 September with a pre-tax profit of $10.1 million compared with $7.9 million for the previous year achieved on 9% lower revenue of $1.366 billion. Of greater significance to farmers is the decision to distribute $9.8 million to shareholders, while the company’s equity position has improved from 58% of assets to 72%. Debt reduced from $129 million to $41 million with no seasonal debt at year end.
Alliance’s transformation programme has achieved improvements of $56 million compared with budgeted savings of $34 million and, according to chairman Murray Taggart, the company is only part of the way through the programme. In spite of the market challenges arising from global uncertainties like Brexit and the US presidential election result, Taggart told me he is feeling more optimistic than at any time since joining the Alliance board. . .
Meat, wool lack NZ brand: report – Sally Rae:
One of the biggest weaknesses — and thus opportunities — for the meat and wool sector is the lack of a coherent New Zealand “brand” internationally.
That is a key point raised in Westpac’s latest Industry Insights report covering New Zealand’s largest primary industry.
Farmers, meat and wool processors, farm advisers and farm support business were among those canvassed for their views on the biggest risks and challenges for the sector. . .
Reigning world champion Rowland Smith has been deposed by Southland shearer Nathan Stratford who will now represent New Zealand at the world championships in his home town.
The gruelling 10-month selection process ended in dramatic fashion at the Canterbury A&P show with Stratford causing the second boil-over in a many days after Mary-Anne Baty bolted into the wool-handling team with fellow Gisborne handler Joel Henare.
Stratford will team up with 2014 world champion John Kirkpatrick of Napier in the machine shearing team. . .
A bolter. It’s an oft-used term in the sporting world, and it sits comfortably with Gisborne’s Mary-Anne Baty.
On Thursday Baty completed a remarkable three weeks by being named alongside Joel Henare in the CP Wool Shearing Sports New Zealand woolhandling team to compete at the 2017 world shearing and woolhandling championships in Invercargill in February.
Baty had to rely on a strong finish in the final qualifier of the six-event, year-long series in Hastings in October to sneak into the six-person selection final on a countback. She then made the most of her opportunity to qualify third from the semi-finals and take second place behind Henare to earn New Zealand selection. But it could have been a very different story. . .
Binxi not only Blue Sky suitor – Neal Wallace:
A takeover offer by Chinese-backed NZ Binxi (Oamaru) Foods is not the only offer being considered by Southland processor Blue Sky Meats.
The company earlier this year employed Auckland consultants BDO to provide business options for Blue Sky and the $2.20 a share offer from NZ Binxi was the “first out of the blocks”, chairman Scott O’Donnell said.
“They are not the only party talking to us.”
The offer valued the company at $25.3 million, a significant premium on its market capitalisation value of $15m. O’Donnell said the process of formally documenting the takeover offer, board consideration of its merits and finally making a recommendation to shareholders could take four to six weeks. . .
Apple connoisseur to the core – Gerard Hutching:
Tony Fissette knows his apples. Hailing from Belgium’s growing heartland, he has been involved in the fresh produce business most of his working life.
As far as he is concerned, the jazz and envy apples he markets from his office near Brussels for T&G Global (the former Turners & Growers) are “the best apples I’ve ever eaten”.
European consumers agree. For the industry standard 18kg carton of jazz sold to supermarkets, growers receive an $8 premium over the old standby braeburn and royal gala varieties. . .
Seafood New Zealand welcomes the opportunity to review and refine fisheries management in New Zealand.
The Government proposes three strategic and two regulatory changes that focus on improving information gathering and management, and on ways to further minimise the industry’s environmental footprint, in the Future of our Fisheries report released by the Ministry for Primary Industries today.
“The report brings a renewed focus, for all those who love kaimoana, to work together to further improve New Zealand’s fisheries,” Seafood New Zealand Chairman George Clement said. . .
I think that if you were raised on a farm, you were born with dirt in your shoes, and once you get dirt in your shoes, you can’t ever get it out.