New Zealand’s fifth largest exporter, ANZCO Foods, has reported a pre-tax profit of $17m for the year ending 31 December 2016, a 21 percent lift on the previous year.
“In 2016, total revenue was slightly lower than 2015 ($1.45 billion compared with $1.54 bn) mainly as a result of foreign currency exchange rate movements. The solid business performance was pleasing, especially given the ongoing challenges of the wider red meat industry,” says managing director Mark Clarkson.
As well as its beef and lamb processing business, ANZCO has a number of innovative value-add operations and Clarkson says it was pleasing that the positive performance had occurred across both parts of the business.
In addition, a focus on working closely with majority shareholder Itoham contributed to ANZCO’s solid performance. “Growth in the Japanese market, including grain-fed beef and manufactured food products were key areas of gain,” says chairman Sir Graeme Harrison.
The company’s commitment and focus on health and safety delivered a substantial reduction in injury rates in the 2016 year. The company will continue to focus on this important area in 2017.
“ANZCO invested more than $23 million during the year enhancing processing capability at the Rangitikei and Canterbury sites to meet customer requirements, along with a growing commitment to value-add business activities, including a significant increase in Angel Bay manufacturing capacity at ANZCO Green Island,” says Sir Graeme.
“In addition, the company purchased the remaining 50 percent of its Melbourne-based blood protein and serum business, Bovogen that had been a joint venture since 2013.”
ANZCO will continue its substantial investment in enhancing capabilities in 2017.