PGW Raises Guidance

Wednesday 4th May 2022

PGG Wrightson Limited* (PGW) Chairman, Rodger Finlay, announced today that “Following the strong half year result announced in February, PGW has continued to see solid demand during the third quarter of the financial year, and this has resulted in a pleasing performance across the majority of our business units.”

“On the back of this strong financial performance, the Board has determined to lift our Operating EBITDA** guidance for the full year from $62 million to around $66 million.”

“The impressive trading results year-to-date are a testament to the incredible efforts of our team in what has been a busy and challenging year to date. Our third quarter trading has exceeded expectations with Retail, Livestock, and Real Estate all experiencing solid demand.”

“We have seen our Livestock clients in the North Island and Canterbury purchasing more stock due to good grass cover which has also supported welcome growth in our GO-STOCK grazing programmes. The wet weather and humid conditions through late summer and autumn has supported robust sales in crop inputs and animal health categories. Our Real Estate performance has also remained positive with some large Kiwifruit orchards sold during March.”

“Although there remains a degree of uncertainty regarding future COVID-19 variants and there continues to be supply chain disruption, the move to the Orange setting and the opening of our border has been welcomed positively.” Mr Finlay said.

Ends

PGW Guidance Update

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