Pāmu increases guidance buoyed by rising milk price, production

Mark Leslie says continued spending discipline is a must if the improvement in milk price is to be reflected in Pāmu's balance sheet. (Image: Supplied)

Riley Kennedy

Fri, 22 Nov 2024

Landcorp has substantially increased its net profit guidance off the back of rising milk prices and production.The state-owned farmer, which trades as Pāmu initially expected a net operating profit – its favoured measure – of $8 million for its current year.However, it has now upped that to a range of between $25m and $40m.For the 12 months to June this year, it reported a net operating profit of $20m. On an after-tax basis, it made a loss of $26m.Global dairy prices have increased significantly since the start of the dairy season,...

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