Scratching beneath the surface of Fonterra’s accounts – Keith Woodford:
Fonterra’s loss of $196 million for the year ended 31 July 2018 has left nowhere for the Fonterra Board to hide. Wisely, it has chosen to take the loss on the chin. In line with this, it has completed the jettisoning of CEO Theo Spierings. Two of its most experienced directors (Wilson and Shadbolt) are also departing.
Fonterra plans to now take stock of the situation before charting a path to the future. However, the latest Fonterra communications at farmer meetings are emphasising debt reduction.
A black and white sort of a guy
New Chairman John Monaghan has been described to me as a black and white sort of a guy. That might be exactly what Fonterra needs; someone who calls a spade a spade and cuts through the public relations massaging that bedevils Fonterra. . .
Synlait has reported a net after tax profit (NPAT) of $74.6 million, almost double the NPAT of $39.5 million announced for the same period last year.
The results for the financial year ending 31 July 2018 (FY18) were achieved in a period of large investment, and a renewed focus on the future.
An increase in finished infant formula sales helped to drive this profit, which was enabled by a number of investments in the blending and consumer packaging space. . .
A group of Kiwi comedians are set to hit the road for a series of shows designed to get farmers off the farm and laughing.
Farmstrong, a group which promotes rural wellness, has helped organise five further comedy nights after a successful sold-out first show in Waikato.
The initiative is also supported by NZ Young Farmers and the Rural Support Trust. They say it aims to help highlight the issue of mental health and wellbeing, and are a way for farmers to take a break. . .
Apropos of this, Farmstrong has a wellbeing check list.
New boss aiming for more talent – Pam Tipa:
To hit targets and ensure a flow of young talented people coming into agriculture requires connecting with everybody.
This is the view of Lynda Coppersmith (48), who takes over as Young Farmers chief executive on October 1.
”If that means we need to do more to connect with women and show young women there is a career path, then let’s do it,” says Coppersmith. . .
Support has been welcomed from National, Labour, NZ First and Act parties for the introduction of the Tasman District Council (Waimea Water Augmentation Scheme) Bill that saw 112 votes in support to eight opposed and its referral to the Governance and Administration Select Committee, Nelson MP Nick Smith says.
“This Bill is the last critical piece of work required to enable the construction of this dam in the Lee Valley and resolve the long term problems of water security and river health on the Waimea Plains. The project has full resource consents and the $100 million in funding required from horticulturalists, Government and Council. This Bill is about resolving the issue of access to the land for the reservoir in the Mount Richmond Forest Park. . .
The Conservation Minister Eugenie Sage has ordered an urgent cull of the Himalayan tahr population across the central South Island, claiming the numbers have reached destructive levels.
The Department of Conservation (DoC) wants to remove 10,000 tahr on public conservation land, including the Westland/Tai Poutini and Aoraki Mt Cook National Parks, over the next ten months.
The Tahr Liaison Group – made up of organisations with hunting interests and Ngāi Tahu, will help reduce the numbers by hunting an extra 7500 – overall halving the population if successful. . .
The Walking Access Commission, the Government’s expert agency on public access to the outdoors, is pleased to announce the appointment of Ric Cullinane as its new Chief Executive.
Mr Cullinane has been the Commission’s Operations Manager since 2010, and brings a wealth of knowledge and experience to his new role. . .