State farmer Pāmu upgrades profit guidance on strong milk production, red meat prices

Chief executive Mark Leslie. (Image: Supplied)

Thu, 27 Nov 2025

The country’s state-owned farmer has upgraded its net operating profit outlook as milk and livestock production exceed expectations.Pāmu, officially known as Landcorp, is now expecting net operating profit of between $80 million and $90m in the 12 months to June 30, up from its August forecast of between $69m and $79m.It’s also well above its target of $61.3m in its 2026 and 2028 statements of corporate intent.Chief executive Mark Leslie said the revised forecast reflected strong market conditions and operational improvements.'P...

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