Pāmu says 22 farms hit by storms, reports first-half profit

(Image: NZME)

Fri, 17 Feb 2023

New Zealand’s largest farming group, Landcorp, which trades as Pāmu, reported a first-half net operating profit. However, it said that 22 of its livestock farms had suffered damage as a result of Cyclone Gabrielle and the North Island flooding.The full impact has yet to be determined, said Pāmu chief executive Mark Leslie."The subsequent cost of clean-up will likely affect our ability to meet full-year financial targets.”The 22 farms have suffered damage to infrastructure and pasture, and this will limit the ability for them to...

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