Source: New Zealand Government
Landcorp has delivered its strongest operating performance on record, demonstrating that its turnaround is gaining momentum, says State-Owned Enterprises Minister Simeon Brown.
The state-owned enterprise today announced a Net Operating Profit of $113 million, up from $49 million the previous year, alongside a Net Profit After Tax of $160 million. The Crown also received $25 million in dividends during FY26, with a further $15 million dividend to be paid in FY27.
“This result shows Landcorp is making meaningful progress,” Mr Brown says.
“Improved profitability, lower debt, stronger productivity, and increased returns to shareholders are all positive indicators that the business has made significant positive change.
“The Government has been clear that SOEs should focus on their core business, improve performance, maintain cost discipline and deliver an appropriate return on the Crown’s investment. This result is encouraging evidence that, for Landcorp, those efforts are delivering.
“New Zealanders rightly expect state-owned enterprises to be commercially focused, financially disciplined, and mindful of the communities they serve.
Mr Brown acknowledged the contribution of Landcorp’s Board, management, and employees to the company’s improved performance.
“Improving the performance of a business of this scale takes sustained effort. The progress reflected in these results is a credit to the Board, management team, and the staff across Landcorp’s farming operations whose day-to-day focus on performance and operational discipline is delivering results.
“Landcorp plays an important role in New Zealand’s primary sector and manages significant assets on behalf of New Zealanders. The opportunity now is to continue building on this progress, lifting productivity, strengthening profitability, and delivering greater value to taxpayers.”
Original source: https://nz.mil-osi.com/2026/09/10/landcorp-delivers-record-result/