Pamu to pay dividend to Govt, first time in four years

Rural Exchange 02/09/2018

State-owned farming enterprise Pamu Farms, formerly Landcorp, has recorded a lift in revenue.

Pamu increased total revenue by seven percent to $247.1 million and will pay a $5 million dividend to the Government - the first time in four years.

“We’re focused on operational excellence and sustainably growing our business consistent with our strategy,” said Steven Carden, Pamu CEO.

Total revenue growth was helped by a 15 percent increase in livestock revenues and income of $8.1 million from carbon forestry investments. Operating expenses were largely in line with the prior year, the company says.

Mr Carden told RadioLIVE's Rural Exchange a focus on producing a range of premium specialty food and fibre products that command consistent margins.

"Pamu continues to invest and realise the growth potential in its strategy, particularly on high potential land use innovations, as well as concentrating on productive farming that focuses on the wellbeing of its people, animals and the environment," it said in a statement.

Mr Carden discusses the latest operating results revealed this week, plus the unique products Pamu Farms is selling such as deer milk.

Watch the full interview with Steve Carden above.

Rural Exchange with Hamish McKay, Sarah Perriam and Richard Loe, 5-7am Saturday and Sunday on RadioLIVE with Carter’s Tyre Service. Click here for all the ways to watch and listen.