Pāmu has today released its FY26 Integrated Annual Report, highlighting strong financial performance alongside continued investment in farming innovation, environmental stewardship, and people development. The report outlines how New Zealand's largest farming business is delivering commercial returns while creating value for the wider primary sector.
Pāmu reported a Net Operating Profit of $113 million, up from $49 million in FY25, and paid a $25 million dividend to the shareholder. The business also delivered an 11.4% total shareholder return, reflecting both financial performance and broader value creation.
Chief Executive Mark Leslie said the result reflects several years of focused work to lift productivity, strengthen capability, and improve the resilience of farming systems.
"This year's result demonstrates the benefits of disciplined execution and long-term investment. Around 60% of the performance improvement came from operational and productivity gains rather than market conditions alone."
The report highlights progress across strategic priorities, including climate adaptation, Farm Environment Plans, workforce development, technology adoption, and innovation partnerships. It also showcases how Pāmu is using its scale to trial new approaches and share experiences that can benefit the wider food and fibre sector.
The report also reflects the priorities identified through a recent stakeholder materiality assessment. Stakeholders reinforced the value of the role Pāmu has in generating benefits beyond its own farming operations. Leslie said stakeholders reinforced the importance of the role of Pāmu beyond the farm gate.
"One of the strongest messages we are hearing is the value stakeholders place on the role of Pāmu beyond our own farm gates. Many of you have highlighted the importance of not losing sight of commercial performance as a non-negotiable, but also using our scale to test, demonstrate, and de-risk new approaches, then sharing those learnings with the wider primary sector."
Examples highlighted in the report include technology partnerships, genetics programmes, environmental initiatives, and other innovations aimed at improving productivity, sustainability, and resilience across New Zealand agriculture.
Read the report here: FY26 Integrated Report
