PGG Wrightson Limited (NZX: PGW) Annual Results Announcement to 30 June 2021

Tuesday 17th August 2021

PGG Wrightson Limited today announced its results for the financial year ended 30 June 2021. PGW Chairman, Rodger Finlay said that “…our team and the business have again proved that they are leaders in the field in supporting our customers, the agri-sector, and rural communities to deliver an excellent result. The financial year started and finished strongly with year-end Operating EBITDA at $56.0 million, up $13.8 million or 33.0% on last year’s COVID-19 impacted result.”

“PGW also delivered a NPAT of $22.7 million which was up $15.0 million. These results further vindicate the decisions taken over the last two years in divesting the Seeds business and with the concomitant recalibration of our cost base and systems.”

“Based upon the strong full year earnings the Board declared a fully imputed final dividend of 16 cents per share. The dividend will be paid on 4 October 2021 to shareholders on PGW’s share register as at 5pm on 10 September 2021. This will effectively bring the total fully imputed dividends paid for the year up to an impressive 28.0 cents per share which I am sure all shareholders will be delighted about.”

Outlook

Mr Finlay said, “The outlook is positive in the rural sector with strong farm gate and commodity prices. Robust demand is expected to continue for lamb and sheep meat and cattle prices are anticipated to remain high. There is also confidence in dairy with a positive outlook into next year and a solid pay-out predicted.”

“We would hope to be in a position to provide guidance about our expectations for FY22 at our Annual Shareholders’ Meeting in October.”

Please see the links below for details

PGW Results Announcement to 30 June 2021

PGW Consolidated FY Statements to 30 June 2021

PGW Distribution Notice_17 June 2021

PGW Financial Results Announcement Notice

Source: PGG Wrightson Limited

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