Farm retailers' profits hit as on-farm inflation bites

Farm retailers' profits hit as on-farm inflation bites
(Image: Supplied)
Riley Kennedy
Two rural retailers have posted losses as pressure weighs down on their farmer customers’ spending.In their respective financial years to the end of June, Farmlands recorded a loss of nearly $680,000, while Ruralco's net loss after tax came in at $2.1 million. Both retailers operate as co-operatives. While Farmlands has a network of stores throughout the country, Ruralco – which formerly traded as Ashburton Trading Society – operates throughout mid-Canterbury.For much of the 12-month period, on-farm inflation sat...

More Finance

Wisdom from Milford’s ‘oldest’ fund manager
Finance

Wisdom from Milford’s ‘oldest’ fund manager

Stephen Johnston has been watching markets since 1997.

Gregor Thompson 09 Jan 2025
RBNZ issues first non-bank deposit-taker licence in nearly a decade
Finance

RBNZ issues first non-bank deposit-taker licence in nearly a decade

The Reserve Bank of New Zealand has issued a non-bank deposit taker licence to newly formed finance company Welcome.The last time the central bank issued a license was in 2017 to Christian Savings, which was previously licensed as Christian Savings Incorporated, according to the...

Staff reporters 08 Jan 2025
How tax rules discourage wealthy investor migrants
Finance

How tax rules discourage wealthy investor migrants

Covid refugees facing a four-year time limit on tax status are forcing the issue.

Pattrick Smellie 06 Jan 2025
M&A outlook: get set for big ticket IPOs
Finance

M&A outlook: get set for big ticket IPOs

Experts are picking a surge in mergers and acquisitions activity for 2025.