Latest News

26Nov

Kate Acland Joins Ruralco Board and Gabrielle Thompson Re-elected

“Board diversity, through the appointment of two independent directors who work alongside farmer elected directors, and a strategic focus which sees collaboration between Ruralco management and the Board means we are all working together, sharing a commitment to the co-op model and its future.”

It’s proving to be a winning formula which saw six high calibre Director candidates standing at this year’s Director Election with Kate Acland and Gabrielle Thompson being elected onto the two Board seats.

Mid Canterbury based Kate Acland joins the Board bringing a wealth of knowledge in the sheep & beef, deer, dairy, bee and viticulture sectors. In addition to her governance experience in her own businesses, Kate currently holds several outside governance roles; sitting on the Board of Beef + Lamb NZ as Associate Director as well as being Director of North Canterbury Future Farms. “I am honoured and grateful to be elected amongst such a strong field of candidates and I’m looking forward to the challenge of serving the shareholders.”

Familiar face at the Board table Gabrielle Thompson has been successfully re-elected “I’m proud to continue representing the Ruralco Shareholders and look forward to contributing around the board table with my usual enthusiasm.”

“I’m delighted with the election outcome and looking forward to working with our new Director and continuing to work with Gabrielle who has added great value in her previous tenures” commented Chairman Alister Body.

For the first time in six years Ruralco will pay its owners a bonus rebate thanks to increased revenue growth and careful management of expenses.

The $500,000 bonus rebate comes on the back of a strong year for the rural services co-operative, Ruralco (wholly owned by ATS), which recorded operating earnings before interest and depreciation of $1.4m – the most significant post by the co-operative for several years.

During the last financial year Ruralco continued to increase its market share while also focusing on efficiencies within the business, generating an operating surplus before bonus rebates of $870k – more than double last year’s result.

“These figures represent a very positive year for the co-operative, a year in which we have grown our market share not only within Mid Canterbury but also nationally,” said Chairman, Alister Body.

“The gain has come through careful discipline and investment in technology leading to efficiencies being applied to co-operative cost structures, while also seeing revenue growth nurtured across all business units. This has been achieved not only at a local level through our rural trading outlets, but also nationally as Ruralco’s business, including its card supplier network, has expanded and thrived throughout the country.  This network continues to go from strength to strength and is a valued part of our co-op.”

Looking forward, the co-op will continue its focus on developing its people and their pride and passion for working with Ruralco’s owners and suppliers to best serve rural New Zealand.

About the Author

Related

People and the environment a focus in Canterbury for 2020 and beyond

People and the environment a focus in Canterbury for 2020 and beyond

At DairyNZ, the 2020 year is off to a busy start, as we continue to work on a range of activities an...

Read More >
NZ scientists help Italians deal to destructive bug

NZ scientists help Italians deal to destructive bug

A battle being waged between scientists and the Brown Marmorated Stink Bug. The voracious pest first...

Read More >
China’s challenge shifts with time

China’s challenge shifts with time

China is now the big engine driving New Zealand’s export value and volume for the primary sector, w...

Read More >
“Win-backs” no longer a retailer option

“Win-backs” no longer a retailer option

Energy consumers have the opportunity for more choice of energy companies, thanks to the recent deci...

Read More >
Test deep for cereals

Test deep for cereals

Deep-rooting crops such as cereals can access nitrogen deep in the soil profile, so a deeper soil te...

Read More >
Protecting NZ piggeries

Protecting NZ piggeries

Pork farming is a relatively small industry in New Zealand – but with consumption growing dramatica...

Read More >
Select an Account