Annual Results Announcement to 30 June 2022

PGG Wrightson Limited (PGW) today announced its results for the financial year ended 30 June 2022, delivering Operating EBITDA of $67.2 million (up $11.1 million or 20%), Net Profit after Tax of $24.3 million (up $1.6 million or 7%), Revenue of $952.7 million (up $104.9 million or 12%), and a fully imputed dividend of 16 cents per share.

The results were achieved as a consequence of significantly higher revenue growth (up $105 million or 12 per cent from FY21) with margins broadly in line with last year.

PGW Chairman, Joo Hai Lee, stated that the results are a record for the business and that a tight labour market, COVID-19 protocols, and supply chain challenges have been navigated to achieve them.

The Board is cautiously optimistic about the financial year ahead, noting that positive macroeconomic indicators, New Zealand producers' technical innovations, and favourable soil moisture levels across the country should be beneficial.