Pāmu, the state-owned enterprise described as New Zealand's largest farming business, has reported a net operating profit of NZ$113 million for its 2026 financial year, more than double the NZ$49 million of the year before, Rural News Group reports from the company's Integrated Annual Report.
The company paid a NZ$25 million dividend to its shareholder, the government, and delivered a total shareholder return of 11.4%, a measure it says reflects both financial performance and wider value creation.
The report sets out progress on climate adaptation, Farm Environment Plans, workforce development, technology adoption and innovation partnerships. Pāmu said these priorities came out of a recent materiality assessment, which found that much of the value it provides lies in testing, demonstrating and sharing new farming approaches that benefit the wider sector as well as its own farms.
"As a state-owned enterprise, we have an opportunity to create spillover benefits that extend well beyond our own farms," chief executive Mark Leslie said. The report points to technology partnerships, genetics programmes and environmental initiatives as examples of work aimed at improving productivity, sustainability and resilience across New Zealand agriculture.
While the year's result is a sharp improvement in profitability, the report presents it as more than a financial story, stressing Pāmu's dual role as a commercial farming business and a state-owned entity expected to deliver wider benefits for the sector in environmental practice and innovation.
Source: Rural News Group
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