Pamu reports flat result, says diversification paying off

Thu, 26 Aug 2021

State-owned Landcorp Farming, which trades as Pāmu, reported earnings before interest, tax, depreciation, amortisation and revaluations of $61 million for the year ended June 30 versus $65m in the prior year.The company will pay a dividend of $5m to the government while focusing most of its surplus cashflow on debt reduction.A “rigorous focus” on operating expenses and lifts in productivity in dairy and livestock farming operations drove the result, despite difficult market conditions for some red meat categories due to covid-19&rsq...

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