AgResearch Chairman Sam Robinson said “a significant highlight of the year was AgResearch being awarded the responsibility to host the New Zealand Agricultural Greenhouse Gas Research Centre which involves eight other participating organisations in collaborative research that aims to mitigate nitrous oxide and enteric methane emissions from dairy, sheep and beef farms, and to increase carbon sinks or reduce carbon losses in agricultural soils.”

“We also continued our investment and commitment to working with the dairy industry through the establishment of the Tokanui Dairy Research Farm. Tokanui has enhanced our dairy research capability and helped broaden and deepen our industry relationship, especially with Fonterra and DairyNZ,” said Mr Robinson.

“Regrettably though, part of the business refocus to meet current and future needs led to a number of redundancies. These changes were exacerbated by the disappointing rejection of the wool levy by farmers and consequent reduction in research activities,” said Mr Robinson.

AgResearch’s new Chief Executive Dr Tom Richardson, who joined AgResearch in September, said the 2009/10 year had been a challenging year for the company and its staff.

“AgResearch made a surplus before tax of $2 million on operating revenue of $155.8 million (changes to depreciation rules introduced as part of ‘Budget 2010’ resulted in an NPAT result of a deficit of $8.6 million). Revenue was below budget largely due to slower than expected initiation of new Primary Growth Partnership (PGP) activities. These PGP programmes are important vehicles for AgResearch’s engagement with our sectors, but they have been slow to kick-off. I am pleased that several are now gaining momentum,” said Dr Richardson.

“There were many positive achievements during the year which we will build upon. These included AgResearch being a key part of the Pastoral 21 programme, which includes Fonterra, DairyNZ and Beef + Lamb New Zealand, specifically in the environment and forage areas, new technologies arising from our sheep, cattle and wool science platforms, the development of our 200ha Tokanui Dairy Research Farm, and an increasing demand for our contributions to local and central government land-use planning.

Dr Richardson also noted that an independent survey showed client satisfaction had improved with service delivery now rated ‘very good’ or ‘excellent’ by 76% of AgResearch’s customers – up from 52% in 2008. “This reflects what I have heard from several key clients already – we are doing better at this…and we can always improve.”

Read AgResearch’s Highlights 2009/10 document

Read AgResearch’s Annual Report Financials 2009/10 document

Watch short video comments from the Chairman, former CE and some members of the senior staff about the 2009/10 year

For more information contact:

Allanah James
AgResearch Corporate Affairs Manager
Ph:029 983 3989
allanah.james@agresearch.co.nz