News & Updates
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PGG Wrightson reports 55% increase in operating earnings
PGG Wrightson | Media Release
Wednesday, 22 February 2012
PGG Wrightson reports 55% increase in operating earnings
PGG Wrightson Limited (NZX: PGW) today announced an improved operating performance with earnings before interest, tax and depreciation (EBITDA) for the six months to 31 December 2011 up 55% to $22.0 million compared to $14.2 million in December 2010. Revenue was $693.8 million compared with $616.9 million last year.
George Gould, PGG Wrightson’s Managing Director, said that improved operating results were underpinned by increases in profitability from the company’s livestock, retail and real estate operations. AgriTech, which includes seeds, grain and nutrition, reported earnings broadly in line with last year.
“Overall, PGG Wrightson’s operating profitability has improved as the company follows its plan which is simply to offer high quality service and products to its farmer clients throughout New Zealand, Australia and South America”.
Mr Gould said that PGG Wrightson’s financial position had improved by selling the finance company and it would enjoy lower debt servicing costs.
Net profit after tax (NPAT) was $3.1 million, compared with a loss of $5.9 million last year.
For additional information contact:
George Gould, Managing Director | +64 21 220 2342
Rob Woodgate, CFO | +64 27 458 8534
Email: Corporate Communications | info@pggwrightson.co.nz
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Yeah Right! PGG Wrightson XV tame Team Tui
PGG Wrightson | Media Release
Monday, 13 February 2012
Yeah Right! PGG Wrightson XV tame Team Tui
It was a case of brawn over beer as the PGG Wrightson XV put in a terrific team effort to run away with a well-deserved 33-15 win at the weekend in front of a large crowd at the Mangatainoka RFC. Playing in overcast conditions as a curtain raiser for the Hurricanes-Crusaders preseason Super Rugby game on Neil Symonds farm next to the iconic Tui Brewery, Dan Maw (at 1st five) dictated the pace of the game ably supported by a dominant front row in Greg Somerville and Maurice Stewart (captain).
Wayne McEntee scored the try of the game following a movement that went the length of the field with all forwards handling the ball. Kane Adams at fullback, Shay Moseby on the wing and centre Dan van der Salm combined well to keep the Tui team on the back foot. Regional Manager and team spokesperson Duncan Fletcher said while the PGG Wrightson XV were probably favourites given the rural playing conditions, overall it was a great team effort for a bunch of guys that were brought together from across all parts of the country, playing together for the first time.
For the record, the Crusaders beat the Hurricanes 19-8 in the preseason match in front of 8,000 spectators.
Final score: PGG Wrightson XV 33 Team Tui 15
PGG Wrightson XV
Tries: Shay Moseby, Kane Adams (2), Dan van der Salm, Wayne McEntee
Conversions: Kane Adams (3), Dan Maw
Team Tui
Tries: Hamish Clentworth, Steve Walters, Charl Marais
No conversions.
Playing for the PGG Wrightson XV were:
1 Richard Johnston (Waikato NPC squad 2010 and 2011. Livestock Rep in the Waikato)
2 Maurice Stewart
3 Greg Somerville (66 tests for the All Blacks, ex-Crusader and Melbourne Rebel. Fruitfed Supplies, Kumeu)
4 Luke Brice
5 Mack Lynn (King Country Heartland team 2011, Lock, Livestock agent in King Country)
6 Campbell Harding
7 Sam Wright
8 Wayne McEntee (Ex Waikato Chiefs Super 14, NZ Maoris' No 8. North Island Finance Manager)
9 Chris Lock
10 Dan Maw
11 Chris Johnston (Waikato under 20's, Waikato 7's 2011, Wing. Livestock Waikato)
12 Harry Stanway
13 Daniel van der Salm
14 Shay Moseby (Southland 7's 2011, Southland Country 2009-11, Fullback. Southland Finance manager)
15 Kane Adams (Waikato under 20's, Waikato Chiefs Development Squad, Fullback. Livestock Waikato)
16 Rhys Mellow
17 Geoff Smith
18 Nathan O'Reilly
19 Daniel Groundwater (North Otago Heartland team 2011. Property Finance Manager, Oamaru)
20 Eugene O'Neill
21 Hamish Black
22 Quentin Brears
23 Ryan Shaw.
For additional information contact:
Duncan Fletcher, Regional Manager | 027 598 3367
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PGG Wrightson delivers cash for communities
PGG Wrightson | Media Release
Monday, 13 February 2012
PGG Wrightson delivers cash for communities
PGG Wrightson clients will again have the opportunity of funding the community organisation of their choice through the annual Cash for Communities initiative from 7 February to 31 May this year.
The programme will allocate $2 per tonne of Ballance Agri-Nutrients fertiliser purchased and $2 per $500 spent on selected agri-chemical or seed products to deserving community organisations. Customers have the option of nominating their local school, St John, IHC or Rescue Helicopter for funding.
Stephen Guerin, PGG Wrightson General Manager Rural Supplies, says Cash for Communities represented a joint initiative between PGG Wrightson and a number of its committed suppliers who backed the idea of giving something directly back to the communities they served.
Last year the initiative put more than $80,000 into the hands of almost 140 rural schools, St John services, the IHC and the Christchurch Earthquake Appeal.
Mr Guerin says PGG Wrightson would also continue its focused efforts on providing technical expertise to assist clients with their annual cropping planning through its Autumn land production programme, geared to ensuring that farmers and growers were using the right products at the right time for optimum pasture performance and results.
“The PGG Wrightson team is dedicated to providing quality forage and agronomic solutions that fit into our clients’ farming business.”
Clients can register and nominate their cause in-store or at www.pggwrightson.co.nz.
For further information
Contact Stephen Guerin on 0274 908709 or speak to your local PGG Wrightson representative.
Events
- Sir John Anderson
(Chairman)
Sir John Anderson, KBE
Chairman (appointed 1 March 2010)
(Independent Director)
Sir John is currently Chairman of TVNZ, Capital & Coast District Health Board, the New Zealand Venture Investment Fund and the Wellington Regional Strategy Committee, Commissioner of the Hawke’s Bay District Health Board and serves as a director on the boards of Commonwealth Bank of Australia and the Wellington Regional Stadium Trust.
Sir John was formerly Chief Executive of the ANZ National Bank until his retirement in 2005, former Chairman of New Zealand Cricket, New Zealand’s representative director on the ICC –positions he held from 1995 until 2008 and former Chairman of the New Zealand Sports Foundation.
He has held advisory and governance roles for successive governments through the 1980’s and 1990s and received the 1990 Commemoration Medal for Services to New Zealand and was knighted in 1994. In 1995 Sir John was awarded NBR “New Zealander of the Year”, in 2003 he received the Deloittes Top 200 Company Award “New Zealand’s Most Visionary Leader” and in 2005 was the inaugural winner of “The Blake Medal” for leadership contribution to New Zealand.
- Bill Thomas
Bill Thomas
(Independent Director)
Bill Thomas farms Longbeach, the historic coastal flat land property 14km southeast of Ashburton. He is involved in irrigation development, arable, sheep and beef and dairy farming. Bill is also a Director of PGG Wrightson, having become a Director of Pyne Gould Guinness Limited in September 2001.
- Bruce Irvine
Bruce Irvine
BCom, LLB, FCA, FNZIM, AFInstD.
Bruce was appointed to the PGG Wrightson Board in June 2009 and is also a Director of Pyne Gould Corporation Ltd and its subsidiaries including MARAC Finance Ltd and Perpetual Trust Ltd. Bruce was Managing Partner at Deloitte Christchurch from 1995 to 2007 before his retirement in May 2008. He now acts as an independent director on various boards including: Christchurch City Holdings Ltd, House of Travel Holdings Ltd, Godfrey Hirst NZ Ltd, Market Gardeners Ltd, Rakon Ltd, Scenic Circle Hotels Ltd and Skope Industries Ltd.
- George Gould
(Managing Director)
George Gould
(Managing Director)
George was appointed as a director on 5 January 2010.
George is a company director and investor. He is chairman and major shareholder of Christchurch based investment company Gould Holdings Limited which has a successful track record in private equity and New Zealand listed equities.
George was managing director of NZX listed Pyne Gould Guinness Limited, leading the management of the merger of that company with Reid Farmers Limited from 2001 to 2003. Prior to that, he was Managing Director of NZX listed South Eastern Utilities Limited, whose main achievement was the acquisition of Wairarapa Electricity Limited in 1996 and its subsequent sale in 1999.
A qualified lawyer, George is a graduate of Canterbury University and London School of Economics. He is a fellow of the New Zealand Institute of Management and a member of the Institute of Directors. George is presently an independent director of Orion New Zealand Limited and Christchurch International Airport Limited. He has interests in pastoral farming and commercial property.
- Sir Selwyn Cushing
Sir Selwyn Cushing
KNZM, CMG.
(Independent Director)
Sir Selwyn was appointed to the Wrightson Board in March 2005 following the acquisition of Williams & Kettle Ltd, of which he had been a Director for more than 20 years.
Sir Selwyn has extensive experience in the rural sector and has been involved with public companies for 40 years. He is currently Chairman of Rural Equities Ltd and New Zealand Rural Properties Trust Management Ltd and Skellerup Holdings Ltd. He has been a member of the New Zealand Exchange for 30 years and has been involved with many corporate investment projects.
- Tao Xie
Tao Xie
Bachelor's Degree
Tao Xie (known by most as XT) was appointed as a Director of PGG Wrightson Finance Ltd on 30 December 2009. XT is the Chief Executive Officer / Director of Agria Corporation.
XT was engaged in advisory practice at PricewaterhouseCoopers (PWC) for 20 years where he led PWC’s China market corporate finance practice and served on the firm’s governing Board.
XT has extensive experience in China related cross-border investments and M & A and has helped structure many well-known China businesses. XT received his Bachelor’s degree in physics from Beijing University in China and was a member of the United Kingdom Chartered Association of Certified Accountants.
- Guanglin Lai (Alan)
Guanglin Lai (Alan)
Alan Lai was appointed as a director on 30 December 2009.
Alan has served as the chairman of Agria’s board of directors since June 2007. Alan also served as Agria’s co-chief executive officer from September 2007 to June 2008 and as chief executive officer from November 2008 to September 2009. Alan is a director of BCL, which is Agria’s largest shareholder. In 2002, Alan founded Ace Choice Management Limited, a company that specializes in promoting business and investment activities between the Peoples Republic of China and other countries. From 2000 to 2002, he was managing director of Shenzhen Keding Venture Capital Management Co. Ltd, a venture investment management company. Alan is the chairman of the board of directors and chairman and a member of the nomination committees of China Pipe Group Limited, a Hong Kong-listed company that manufactures construction and energy related pipes in Asia. Alan holds a bachelor’s degree in accounting from Monash University, Melbourne, Australia and is a certified public accountant in Australia.
- Wah Kwong (WK) Tsang
Wah Kwong (WK) Tsang
Wah Kwong (WK) Tsang was appointed as a director on 2 November 2011.
WK is an independent director of Agria Corporation and is the Chairman of its Audit Committee and a member of its Remuneration Committee. WK was a partner of PricewaterhouseCoopers Hong Kong and China Firm (PwC). He has extensive experience in auditing listed and unlisted companies in different industries and providing support for initial public offerings and acquisition transactions. During his over 30 years with PwC, he experienced working in various offices including Hong Kong, New Zealand, Macau and China. He was responsible for the daily practice of Macau and Shenzhen (China) offices while being stationed there. WK received a Bachelor’s degree in Business Administration from Chinese University of Hong Kong. He is a fellow member of Hong Kong Institute of Certified Public Accountants, a fellow member of Association of Chartered Certified Accountants, UK and a member of Chinese Institute of Certified Public Accountants.
- Greg Campbell
Greg Campbell
MBA(Dist), FNZIM, MInstD
Greg Campbell was appointed as a director on 2 November 2011.
Greg has held the position of CEO Ng-ai Tahu Holdings Group since October 2009 on his return from overseas. Prior to this role he was Managing Director of Transpacific Industries NZ Limited, and CEO Australasia where he led the purchase and integration of Waste Management NZ in 2005 along with a number of other significant New Zealand and Australian based companies. Greg has had extensive New Zealand and international executive and governance experience spanning industry sectors such as the petroleum industry, infrastructure, local government (CCTO), heavy industry, public transit, manufacturing, energy and environmental sectors. He has held a wide range of directorships in Australia and New Zealand during his career within listed companies, privately held and not for profits. He is currently a director of EcoCentral Limited, Ng-ai Tahu Fisheries Settlement Limited, Agria Asia Investments Limited and Agria (Singapore) Pte Limited.
- Dr Zhi-Kang Li
Dr Zhi-Kang Li
PhD, MSC, BSc
(Independent Director)
Dr Zhi-Kang Li was appointed as a director on 2 November 2011.
Dr Li is the Chief Scientist, Institute of Crop Sciences/National Key Facility for Crop Gene Resources and Genetic Improvement, Chinese Academy of Agricultural Sciences (CAAS), in Beijing China. He is also the Senior Molecular Geneticist/Breeder, Plant Breeding, Genetics and Biotechnology Division, International Rice Research Institute and the Coordinator of the International Rice Molecular Breeding Network in Asia. He has a PhD in Genetics (Minor in Statistics) from the University of California – Davis. He has expertise in plant molecular genetics (including gene/QTL mapping, marker-assisted plant breeding, gene QTL, discovery and genetic/molecular dissection and functional genomics of complex phenotypes), and their applications to rice cultivar development, genetics and evolution. He is a member of the American Association for the Advancement of Science, the Genetics Society of America and the Chinese Society of Crop Science.
