Yesterday, the NZX-listed company released its annual results for the financial year to June 30, 2021.
The $15 million jump in net profit, compared to last year, would see PGG Wrightson pay a final dividend of 16c a share, following an interim dividend of 12c declared in February.
Given the added pressures of the last year, PGG Wrightson was pleased with its final result, its chief executive, Stephen Guerin, said.
The company’s earning before interest, tax and depreciation, and amortisation was up 33% to $56 million.
Its revenue for the year was $847.8 million, up $59.8 million or 7.6%, on last year.
‘‘Strong commodity and farm-gate prices have given farmers the confidence to go out and spend money and invest,’’ Mr Guerin said.
PGW’s livestock business was a ‘‘mixed bag’’ last year.
Good grass growth in the South Island meant farmers traded lambs earlier last spring but droughts and less supply to meat works in the North Island affected its business.
The wool business had a tough start to the year but showed an improvement in pricing later, he said.
Mr Guerin said its retail and Fruitfed Supplies business traded well and continued to increase their market share.
Positive outlook in the rural sector with solid farm-gate and commodity prices also created a positive outlook for PGW, Mr Guerin said.
A decrease in the stock for the real estate business could see a softening of its performance over the next year, he said.
The company hoped to provide guidance for the 2022 fiscal year at its annual meeting in October.
