[20 July/Rural News]

Landcorp Farming expects a $14 million boost in revenues due to higher than expected milk and meat prices. It said allocation of additional carbon units would also lift earnings. It received the allocation after the five yearly audit by the Ministry for Primary Industries. It noted its EBITDAR for the 2018 financial year would reflect the higher revenues. Landcorp Chief Executive, Steven Carden, said it was pleasing that they were likely to produce a better than forecast full year result. He added the company had a real focus on controlling costs and maximising on farm returns. This was done without compromising their commitment to excellent land and animal management. Mr Carden noted the reforecast was particularly pleasing in what had been a challenging year.