The New Zealand Merino Company has achieved a record pretax profit of $4.01million for the year ended June 30. PHOTO: STEPHEN JAQUIERYThe New Zealand Merino Company has listed on the Unlisted Securities Exchange and is preparing for capital-raising. Before the company’s annual meeting in Christchurch last week, there were restrictions around share ownership to growers and employees. In 1996, merino growers took their future into their own hands by establishing a brand and markets for their fibre as the Merino New Zealand industry-good organisation. In 2001, it became a fully commercial company as The New Zealand Merino Company, owned 65% by growers and 35% by Wrightson.

Source: Otago Daily Times October 19, 2020 15:33 UTC