Developing wealth from water – Keith Woodford:
Current controversies about exporting water, be that in bottles or in bulk tankers, draw attention to New Zealand’s key resource. Yes, that resource is indeed water. In a world that is chronically short of water, we in New Zealand are greatly blessed.
It is because we are so blessed that until recently we have taken the presence of water for granted. Essentially it has been a free resource. As a consequence, water law in New Zealand is real messy. And that leads to major impediments to water being used efficiently, and in ways which the different groups in society can agree on as being ‘fair’.
Water that falls as rain on private land has de facto use rights. But once that water runs off into a stream, or permeates below the level where plants can extract it, then it belongs to the Crown – in effect the people of New Zealand. . .
Silver Fern Farms Annual Result:
Silver Fern Farms has reported a net operating loss before tax and impairment of $7.5m million for the 12 months ended September 2016 on income of $2.2 billion. This compares to a net operating profit of $30.8m and income of $2.5 billion the prior year.
Operating earnings before interest, tax, depreciation and amortisation (EBITDA) were $32.1m, down from $90.5m the prior year. . .
Loss ‘disappointing’ for Silver Fern Farms – Sally Rae:
Silver Fern Farms chairman Rob Hewett has described the company’s financial results as “particularly disappointing” after it posted a $30.6million after-tax loss.
The loss, for the year ended September, compared with a $24.9million net profit in the previous financial year.
Operating earnings before interest, tax, depreciation and amortisation (ebitda) were $32.1million, down from $90.5million.
A $7.5million net operating loss, before tax and impairment and on income of $2.2billion, compared to a net operating profit of $30.8million and income of $2.5billion the previous year. . .
$34.5M Dividend for Co-Op Shareholders:
Silver Fern Farms Co-operative Limited shareholders will receive a $34.5 million special dividend on 14 February.
The dividend of 30 cents per share on all Ordinary Shares and Rebate Shares follows the completion of Shanghai Maling Aquarius’ $267m investment in Silver Fern Farms Limited and the distribution to the Co-operative of $57million from that process which occurred in December 2016.
Silver Fern Farms Co-operative Chair Rob Hewett says the special dividend will be welcome news to shareholders. “This is the first dividend shareholders have received since 2008. Their support and patience as we have developed our Plate to Pasture value added strategy over the past 7 years has been critical to Silver Fern Farms.” . .
Patron announced for QEII National Trust:
The Queen Elizabeth II National Trust is pleased to announce that Her Excellency The Rt Hon Dame Patsy Reddy has accepted its invitation to become Patron.
National Trust CEO Mike Jebson said the National Trust is honoured to have the Governor-General’s patronage.
‘Her Excellency considers conservation and sustainable practices to be of great importance to New Zealand.
‘Her sponsorship is a wonderful endorsement of the efforts the National Trust and its members do in this field of work for the benefit of all New Zealanders,’ Mr Jebson said. . .
Last bastion of pioneering family’s links to the past goes on the market for sale:
A character-filled homestead linking a pioneering family with colonial roots dating back some 150 years in New Zealand’s past, has been placed on the market for sale.
The museum-like home linked to the Alison family in the Northland township of Waipu is adjacent to farm land first settled by direct descendants of the founding family in 1866.
With the last two grand-children of pioneering settler Duncan Alison passing away without any children of their own, the four-bedroom home and lifestyle block-sized landholding have been placed on the market for sale. . .
Karaka 2017 to Showcase the Cream of the Australasian Sire Crop:
All of the biggest names in New Zealand and Australia’s sire ranks will be represented in force at the upcoming 2017 National Yearling Sales Series at Karaka.
Waikato Stud stallion Savabeel had a boomer of a Sale in 2016, amassing an aggregate of $11.545 million in the Premier session alone. Last season’s champion sire in terms of domestic, Australasian and worldwide earnings, and the leading sire again so far in 2016-17, Savabeel will again be represented by an impressive crop of 64 yearlings in the Premier catalogue. . .