June 29, 2017 2:36 AM ET

Food Products

Company Overview of Landcorp Farming Ltd.

Company Overview

Landcorp Farming Limited, a pastoral farming company, provides farm management services in New Zealand. The company’s activities include growing sheep, deer, and beef cattle to produce meat; and holding dairy cattle to produce milk, as well as production and sale of wool under the Pamu name. It is also involved in land development and management; providing of farm technology; and developing and sale of genetically superior sheep, cattle, and deer breeds. The company operates 140 farms. Landcorp Farming Limited was founded in 1987 and is based in Wellington, New Zealand.

15 Allen Street

PO Box 5349

Wellington,  6145

New Zealand

Founded in 1987

704 Employees

Phone:

64 4 381 4050

Key Executives for Landcorp Farming Ltd.

Chief Executive Officer
Chief Financial Officer
General Manager of Innovation and Technology
General Manager of People & Safety
Compensation as of Fiscal Year 2016.

Landcorp Farming Ltd. Key Developments

Landcorp Farming Reports Earnings Results for the Six Months Ended December 31, 2016; Reiterates Earnings Guidance for the Year 2017

Landcorp Farming reported earnings results for the six months ended December 31, 2016. The company posted an operating loss of $8.9 million in the six months ended December 31, 2016 unchanged from the year earlier period. Revenue was also little changed at $109.3 million from $108.8 million. Net profit after tax fell 12% to $41 million. The profit measure includes significant revaluation gains and losses from the value change in livestock and financial instruments. For the full-year 2017, the company reiterated its operating profit of between $2 million and $7 million, ahead of its original forecast for a loss of $13.1 million. It posted an operating loss of $9.4 million last year.

Landcorp Selling 10 Farms Across Country

Landcorp Farming Ltd. is offloading 10 farms totalling about 11,650 hectares. Two of the properties are being offered for sale this month, with another eight farms from across the country to go before iwi for the first right of refusal.

Landcorp Selling Ten Farms Across Country

Landcorp Farming Ltd. is selling four properties on the South Island"s West Coast, two in Southland, one in Otago, one in the Manawatu, one on the Wairarapa-Hawke"s Bay border, and one in the Waikato-King Country area. Iwi have first right to purchase the properties under the Treaty of Waitangi, and eight properties are still subject to that process. The properties that are currently on the open market are the 1483ha Copper Road sheep and beef farm in Otago, and Caroline Terrace on the West Coast, which has 120ha of grazing land on a 470ha property. Peter Newbold, General Manager of PGG Wrightson Real Estate, expected there to be some indication on the outcome of the iwi consultation process by Christmas. "One of the nice things about the Landcorp properties is that they"re really good custodians of the land so they"re really well looked after so if things aren"t right they"re fixed, and they"re well managed. There had not been interest from offshore buyers at this stage," Peter Newbold said.

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Recent Private Companies Transactions

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Target
No transactions available in the past 12 months.
 

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