NZ niche milk processor Tatua ready to expand
Tatua Cooperative Dairy is a New Zealand-based independent co-operative dairy company. The company has achieved record revenue and earning numbers for FY-2019.
According to their Financial Year Report for 2019, income before tax and retentions rose from NZD $127 to $140 million in the 12 months ended 31 July 2019, while revenue climbed 2 percent to $364 million.
“In deciding our payout, we have aimed to achieve a balance between the needs of our shareholder’s farming businesses and Tatua’s requirements for reinvesting in our long term environmental, financial and social sustainability,” chair Steve Allen and chief executive Brendhan Greaney said in a statement.
“In addition, uncertainty around emerging domestic policies on both climate change and freshwater management, have real potential to undermine investment confidence. Alongside our shareholders, we will nonetheless embrace these challenges constructively.
“While we remain optimistic in our outlook for dairy and the season ahead, our optimism is tempered by continuing volatility in the global trade arena. In addition, uncertainty around emerging domestic policies on both climate change and fresh water management, have real potential to undermine investment confidence. Alongside our shareholders, we will nonetheless embrace these challenges constructively.” they added.
