ANZCO Foods lifts performance on value-add business growth

ANZCO Foods has continued its drive to deliver more value from its business with annual results reporting turnover of $1.90b (2021 $1.64b), and net profit before tax of $147.7m (2021 $75.0m) for the 2022 financial year.

“This result reflects a continued focus on core business activities, growing returns from strategic investments and the hard work and dedication of our people who have continued to deliver through challenging times,” says ANZCO Foods Chief Executive Peter Conley.

“ANZCO Foods has a core focus on ensuring livestock is procured to meet customer expectations, and this has enabled the company to capitalise on the strong demand globally for premium beef and lamb. Our attention to supporting key customer relationships and delivering improved revenue streams from our value-add business investments are also big contributors to the strong performance. Other challenges continued during the year, including ongoing impacts from Covid-19, labour shortages, inflationary pressure, and continued supply chain disruption with our team working tirelessly to ensure the effects of these were minimised.

“Our healthcare business has been strengthened with the acquisition of Moregate Biotech which has complemented our existing work at Bovogen, and accelerated our capacity, expertise and customer set in the healthcare and bioscience sector.”

Climate change and sustainability continued to be a key focus for ANZCO Foods during the past year. The company has made significant capital investment in a number of projects to help it remain on track to meet its sustainability objectives including replacing a coal boiler at its Kokiri site and installing solar panels at its Blenheim site.

“As part of our desire to help farmers in the face of climate change, ANZCO Foods became a founding partner in the Centre for Climate Change Action on Agricultural Emissions,” says Mr Conley. “This is a commitment to a four-year industry and government collaboration to accelerate the development, commercialisation, and delivery of effective and affordable tools and solutions for farmers to reduce agricultural emissions.”

ANZCO Foods continued to actively support people and communities across New Zealand, particularly in rural communities through donations, sponsorships and scholarships with focuses on supporting food banks and rural schools as well as improving mental wellbeing and supporting emergency responders.

“We were pleased to be able to assist people in regions affected by Cyclone Gabrielle, and while the effects of this storm will be long lasting, our people have been active on the ground providing food, and farm supplies to help farmers through this challenging event.

“2023 is already providing challenges with adverse weather events, global volatility, and an uncertain economic outlook. ANZCO Foods remains committed to doing all we can to continue to deliver strong returns, ensure the industry remains stable, and contributes to a strong and vibrant agribusiness sector,” says Mr. Conley.