Overview

• The farmer-owned co-operative posted profit after tax of NZ$1.08 billion for the year to July 31, 2025, down 4.3% from a year earlier.
• Total revenue rose about 15% to NZ$26 billion, underscoring growth in the underlying business scale.
• The profit decline was attributed to a higher tax expense following changes to the treatment of shareholder distributions.
• Normalised earnings per share came in at 71c, which sat within the 65c–75c guidance range.
• For international context, the reported profit equals about US$627.8 million at an exchange rate of US$1 = NZ$1.7203.