News & Updates

PGG Wrightson Trading Update

PGG Wrightson | Media Release

Tuesday, 14 May 2013

PGG Wrightson Trading Update

PGG Wrightson Trading Update

PGG Wrightson Limited (PGW) has today provided an earnings guidance update.

Earnings before interest, tax and depreciation for the financial year ending 30 June 2013 is forecast to be in the range of $48 - $40 million as compared with $55 million for the corresponding period last year.

The three main factors contributing to the change in earnings have been climatic conditions across Australia and New Zealand, lower livestock values and when compared to the last financial year, less earnings from Agri-feeds post disposal to the 4Seasons Feeds Limited joint venture.

Climatic extremes in Australia with two record wet years followed by record-breaking high temperatures this year have frustrated the company’s efforts to build earnings in Australia. Consequently, the Australian seed business, whilst important to the group strategically, is not forecast to contribute significantly to group earnings this year.

Climatic conditions in New Zealand have also been a factor with the whole of the North Island and

much of the South Island in one of the most extensive droughts on record.

PGW Managing Director, George Gould said that livestock values have been in decline since the beginning of the current financial year, first in sheep and more latterly in beef, deer and dairy. “While volumes and market share remain solid, prices are back approximately 30% compared with last year and this has had a material impact on group earnings. The business of PGG Wrightson reflects to a great degree the fortune of our farmer clients and this has been an extremely difficult trading year, which is forecast to impact on PGG Wrightson’s final result.” Mr Gould said.

For further information contact:

George Gould

Managing Director

+64 3 372 0976
Resignation of GM-PGW Seeds Australia
Half-Year Results Announcement

PGG Wrightson | Media Release

Wednesday, 27 February 2013

Half-Year Results Announcement

PGG Wrightson Limited (NZX:PGW) today announced an increased profit of $4.8 million for the six months to 31 December 2012, up from $3.1 million a year ago. PGW also reported strong cash flows from operating and investing activities, delivering a combined total of $24.4 million (up from $6.0 million last year). This result follows a strong profit for the full year to 30 June 2012 announced last August and has allowed the company to halve its net debt position over the course of the last 12 months. PGW Managing Director, George Gould, credited the improvement to stronger operating earnings across all major businesses along with working capital efficiencies and collection of the Crafar Farms debt in December.

In line with the dividend policy announced in December, directors have declared a fully imputed dividend of 2.2 cents per share which will be paid to shareholders registered at the record date of 14 March 2013. The dividend will be paid on 28 March 2013.

Mr Gould said that the improved earnings reflected strong operating performance across all major activities of the company. “The tougher conditions being faced by farmers clearly impact on some areas of our business, but overall our businesses have performed strongly and most have lifted earnings yearon-year,” Mr Gould said.

“We are especially pleased with the performance of our New Zealand Seed, Retail, Wool and Irrigation & Pumping businesses – all of which showed sizeable gains.”

Mr Gould said he was pleased with progress being made in PGG Wrightson Rural Supplies and Fruitfed Supplies, both being retail businesses facing intense competition from farmer owned co-operatives.

“Our job is to add value to our farmer clients, helping them make their farming businesses more profitable. If we do add value, there is worthwhile margin for us, and the track record shows we are achieving success on this front.”

“It’s about having the best rural servicing reps across all businesses, in every region throughout New Zealand.”

“While our trading businesses such as Livestock, Grain and Real Estate are more susceptible to overall market conditions, their underlying performance remains solid. In Livestock, our tallies remain broadly inline with last year but the decline in sheep and deer values impacted on earnings.”

“Our investment in R&D continues to underpin the performance of our Seeds businesses and we achieved outstanding growth in sales from the newly launched CleanCrop™ Brassica system and continue to see strong growth from the AR37 range of rye-grass seeds. Confirmation last week of arrangements for the Primary Growth Partnership for Seed and Nutritional Technology Development were positive and will be valuable in further enhancing our R&D programmes.”

Revenue for the Retail business is not directly comparable to last year due to a move to transacting some categories as an agent rather than a principal. This did not impact on profit but resulted in a $91.2 million reduction in stated revenue.
PGP - Seed and Nutritional Technology Development
PGG Wrightson delivers cash for communities

Events

Store Events & Road Shows

At PGG Wrightson, we understand that farmers need the right advice and the best products to fit their farming requirements. That’s why we are pleased to host a number of events throughout the year to provide expertise and sound technical knowledge to help our clients make the right choices.

Efficient Feeding: Each Mouthful Makes Money Join your local PGG Wrightson team for a Ewe Winter Management event held around the country during May and June 2013. We understand farmers need the right advice and the best products to fit their farm system. When managing winter feed requirements of pregnant and growing livestock, it can often mean converting science to practical application on farm. We are pleased to have this opportunity to provide expertise and sound technical knowledge to help you make the right choices this winter. Hear interesting and timely presentations on the most efficient feeding methods to help you manage your stock throughout winter: Paul Kenyon, Professor of Sheep Husbandry at Massey University (proudly supported by Beef+Lamb New Zealand) – New Zealand feeding studies and sheep production Hannah Field, COOPERS veterinarian – vaccination tips Zoetis representative – choosing the most cost effective pre-lamb drench option for your ewes Andrew Dowling, PGG Wrightson Animal Health Technical Expert – feeding options and how to achieve the best results. Food and refreshments will be provided. Don’t miss out! Register today!
Date	Location	Registration Contact
MON 20 MAY	4.00pm PGG Wrightson Gisborne 21 Solander Street	Bruce Marriot by Wednesday 15 May P: 06 863 1667 E: bmarriot@pggwrightson.co.nz

TUE 21 MAY	12.00pm John Chitticks Woolshed 5227 Puketitiri Road, RD6, Napier 4.00pm Elsthorpe Hall Kenderdine Road, Elsthorpe	Garry Jones P: 06 873 7207 E: garryjones@pggwrightson.co.nz or Chris Johnson P: 027 273 7997 E: chrisjohnson@pggwrightson.co.nz Register by Wednesday 15 May

TUE 28 MAY	12.00pm Piopio Golf Club State Highway 3	Linda Langlands by Tuesday 21 May P: 07 877 0012 E: llanglands@pggwrightson.co.nz

	5.00pm PGG Wrightson Taumarunui Miriama Street	Angela Fergusson by Tuesday 21 May P: 07 895 3220 E: afergusson@pggwrightson.co.nz

THU 30 MAY	12.00pm Eketahuna Rugby Club Alfredton Road	Jason Waterman by Thursday 23 May P: 06 375 8125 P: 027 218 1606 A/H E: jwaterman@pggwrightson.co.nz

	4.00pm Turley Room, Masterton Cossie Club 398 Queen Street	Register by Thursday 23 May P: 06 370 1855 E: mastertonstore@pggwrightson.co.nz After hours contact: Shane Cohen – 027 294 6510 Gavin Harris – 06 377 5838 Eddie Andrews – 06 378 9541

TUE 11 JUNE	12.00pm PGG Wrightson Retail Store Invercargill Cnr Dee & Earnslaw Street	Cain Braithwaite by Tuesday 4 June P: 03 211 3160 E: cbraithwaite@pggwrightson.co.nz

	4.00pm Excelsior Rugby Club Bury Street, Gore	Paul Henry by Tuesday 4 June P: 03 209 0314 E: phenry@pggwrightson.co.nz

WED 12 JUNE	12.00pm Heriot Rugby Clubroom Roxburgh Street	Gordon Scott by Wednesday 5 June P: 03 204 2021 E: gordonscott@pggwrightson.co.nz

	5.00pm PGG Wrightson Ranfurly 6 Northland Street	Sharon Mason by Wednesday 5 June P: 03 444 1033 E: smason@pggwrightson.co.nz

THU 13 JUNE	12.00pm MacKenzie Rugby Football Clubrooms School Road, Fairlie	John Smith by Thursday 6 June P: 03 685 9090 E: jsmith@pggwrightson.co.nz

	5.00pm Darfield Rugby Clubrooms Darfield Recreation Centre, Horndon Street	Hamish Milner by Thursday 6 June P: 03 318 7850 E: hmilner@pggwrightson.co.nz
Contact your local store to find out details about any events that may be happening in your area.

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		At PGG Wrightson, we understand that farmers need the right advice and the best products to fit their farming requirements. That&rsquo;s why we are pleased to host a number of events throughout the year to provide expertise and sound technical knowledge to help our clients make the right choices. 
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				<h3>
					 
					Efficient Feeding: Each Mouthful Makes Money 
					&nbsp;</h3>
				
					<img alt="" src="/Userfiles/images/Page Images/In Communities/Winter-Ewes.jpg" style="width: 450px; height: 137px;" /> 
					 
					Join your local PGG Wrightson team for a Ewe Winter Management event held around the country during May and June 2013.
				
					We understand farmers need the right advice and the best products to fit their farm system. When managing winter feed requirements of pregnant and growing livestock, it can often mean converting science to practical application on farm.
				
					We are pleased to have this opportunity to provide expertise and sound technical knowledge to help you make the right choices this winter. Hear interesting and timely presentations on the most efficient feeding methods to help you manage your stock throughout winter:
				<ul>
					<li>
						Paul Kenyon, Professor of Sheep Husbandry at Massey University (proudly supported by Beef+Lamb New Zealand) &ndash; New Zealand feeding studies and sheep production</li>
					<li>
						Hannah Field, COOPERS veterinarian &ndash; vaccination tips</li>
					<li>
						Zoetis representative &ndash; choosing the most cost effective pre-lamb drench option for your ewes</li>
					<li>
						Andrew Dowling, PGG Wrightson Animal Health Technical Expert &ndash; feeding options and how to achieve the best results.</li>
				</ul>
				
					Food and refreshments will be provided. Don&rsquo;t miss out! Register today!
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					Date
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					Location
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					Registration Contact
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					MON 20 MAY
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					4.00pm 
					PGG Wrightson Gisborne 
					21 Solander Street
			</td>
			<td style="text-align: left; vertical-align: top; width: 35%;">
				
					Bruce Marriot by Wednesday 15 May 
					P: 06 863 1667 
					E: <a href="mailto:bmarriot@pggwrightson.co.nz">bmarriot@pggwrightson.co.nz</a>
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					TUE 21 MAY
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					12.00pm 
					John Chitticks Woolshed 
					5227 Puketitiri Road, RD6, Napier 
					 
					4.00pm 
					Elsthorpe Hall 
					Kenderdine Road, Elsthorpe
			</td>
			<td colspan="1" style="text-align: left; vertical-align: top;">
				
					Garry Jones 
					P: 06 873 7207 
					E: <a href="mailto:garryjones@pggwrightson.co.nz">garryjones@pggwrightson.co.nz</a>
				
					or
				
					Chris Johnson 
					P: 027 273 7997 
					E: <a href="mailto:chrisjohnson@pggwrightson.co.nz">chrisjohnson@pggwrightson.co.nz</a>
				
					Register by Wednesday 15 May
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					TUE 28 MAY
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					12.00pm 
					Piopio Golf Club 
					State Highway 3
			</td>
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					Linda Langlands by Tuesday 21 May 
					P: 07 877 0012 
					E: <a href="mailto:llanglands@pggwrightson.co.nz">llanglands@pggwrightson.co.nz</a>
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					5.00pm 
					PGG Wrightson Taumarunui 
					Miriama Street
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					Angela Fergusson by Tuesday 21 May 
					P: 07 895 3220 
					E: <a href="mailto:afergusson@pggwrightson.co.nz">afergusson@pggwrightson.co.nz</a>
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					THU 30 MAY
			</td>
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					12.00pm 
					Eketahuna Rugby Club 
					Alfredton Road
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					Jason Waterman by Thursday 23 May 
					P: 06 375 8125 
					P: 027 218 1606 A/H 
					E: <a href="mailto:jwaterman@pggwrightson.co.nz">jwaterman@pggwrightson.co.nz</a>
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					&nbsp;
			</td>
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					4.00pm 
					Turley Room, Masterton Cossie Club 398 Queen Street
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					Register by Thursday 23 May 
					P: 06 370 1855 
					E: <a href="mailto:mastertonstore@pggwrightson.co.nz">mastertonstore@pggwrightson.co.nz</a> 
					 
					After hours contact: 
					Shane Cohen &ndash; 027 294 6510 
					Gavin Harris &ndash; 06 377 5838 
					Eddie Andrews &ndash; 06 378 9541
			</td>
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					TUE 11 JUNE
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					12.00pm 
					PGG Wrightson Retail Store Invercargill 
					Cnr Dee &amp; Earnslaw Street
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					Cain Braithwaite by Tuesday 4 June 
					P: 03 211 3160 
					E: <a href="mailto:cbraithwaite@pggwrightson.co.nz">cbraithwaite@pggwrightson.co.nz</a>
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					4.00pm 
					Excelsior Rugby Club 
					Bury Street, Gore
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					Paul Henry by Tuesday 4 June 
					P: 03 209 0314 
					E: <a href="mailto:phenry@pggwrightson.co.nz">phenry@pggwrightson.co.nz</a>
			</td>
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				&nbsp;</td>
			<td style="text-align: left; vertical-align: top;">
				
					WED 12 JUNE
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					12.00pm 
					Heriot Rugby Clubroom 
					Roxburgh Street
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					Gordon Scott by Wednesday 5 June 
					P: 03 204 2021 
					E: <a href="mailto:gordonscott@pggwrightson.co.nz">gordonscott@pggwrightson.co.nz</a>
			</td>
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				<hr />
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				&nbsp;</td>
			<td style="text-align: left; vertical-align: top;">
				
					5.00pm 
					PGG Wrightson Ranfurly 
					6 Northland Street
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					Sharon Mason by Wednesday 5 June 
					P: 03 444 1033 
					E: <a href="mailto:smason@pggwrightson.co.nz">smason@pggwrightson.co.nz</a>
			</td>
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				&nbsp;</td>
			<td style="text-align: left; vertical-align: top;">
				
					THU 13 JUNE
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					12.00pm 
					MacKenzie Rugby Football Clubrooms 
					School Road, Fairlie
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					John Smith by Thursday 6 June 
					P: 03 685 9090 
					E: <a href="mailto:jsmith@pggwrightson.co.nz">jsmith@pggwrightson.co.nz</a>
			</td>
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				&nbsp;</td>
			<td style="text-align: left; vertical-align: top;">
				
					5.00pm 
					Darfield Rugby Clubrooms 
					Darfield Recreation Centre, Horndon Street
			</td>
			<td style="text-align: left; vertical-align: top;">
				
					Hamish Milner by Thursday 6 June 
					P: 03 318 7850 
					E: <a href="mailto:hmilner@pggwrightson.co.nz">hmilner@pggwrightson.co.nz</a>
			</td>
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				<hr />
				
					Contact your <a href="http://admin.pgw.live/Services/FindStore">local store</a> to find out details about any events that may be happening in your area.
			</td>
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