Pāmu reports $3m half-year profit, blaming weak milk, lamb prices

Pāmu chief executive Mark Leslie. (Image: Pāmu)

Tue, 20 Feb 2024

The country’s state-owned farmer has managed to eke out a profit in the first half of the financial year, with commodity prices and weather squeezing its bottom line.Landcorp Farming, which trades as Pāmu, produced a net operating profit of $3 million for the six months to the end of December, down from the $15m it reported in the same period the year before.During the first half of its year, dairy and lamb prices were, and continue to be, under significant pressure, and it had to deal with the clean-up of last year’s cycl...

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