From the CEO

This month we focus on innovation, while also discussing our annual result. Innovation is central to the ongoing success of your co-operative. As the requirements of our shareholders change, so to must our offer.

We have proven our value to shareholders by turning around a $9 million loss into a $5.4 million profit in the 2016/17 financial year. While the market has recovered, for some the challenges in our sector remain. In some parts of the country there is still a hard grind to reach profitability and the role of Farmlands is to provide support and solutions.

Our purpose is to reinvent the co-operative spirit, ensuring our shareholders’ future success is at the centre of everything we do. Returning to profitability is a sign that we are on the right track – but by no means are we the finished product.

On pages 6-9 of The Farmlander you can read my thoughts and those of Farmlands Chairman Lachie Johnstone on the year that was. This is the commentary we have provided for this year’s Annual Report, which is available online at www.farmlands.co.nz and available in-store with a limited print run.

We can be proud of what we have achieved together. On behalf of everyone at Farmlands, I want to thank both staff and shareholders for the continued support of our co-operative. We look forward to another 12 months of progress and success.

Peter Reidie
Farmlands CEO