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

Why Fonterra Oceania makes sense
Finance

Why Fonterra Oceania makes sense

It’ll be made out of Fonterra Australia and Fonterra Brands NZ.

Riley Kennedy 23 Feb 2024
Colin Rath won't be pursued over potential director duties breach
Finance

Colin Rath won't be pursued over potential director duties breach

He's also had another nine months added to his sentence.

Riley Kennedy 21 Feb 2024
IAG profits on the back of premium hikes
Finance

IAG profits on the back of premium hikes

The insurer posted profits of A$204 million in the first half of the financial year.

Staff reporters 16 Feb 2024