Federated Farmers Announces $1.8m Turn-Around

17 April 2000
PR33/2000

FEDERATED FARMERS ANNOUNCES $1.8M TURN-AROUND FOR 1999

President Alistair Polson today released the Federated Farmers of New Zealand (Inc) 1999 financial result, stating that it represented a $1.8 million turn-around from the year before.

The federation finished the year with a $20,000 profit, the first positive financial result after several years of losses.

"The federation made a commitment to its members to live within its budget, and has kept its promise."

"Since the restructuring of the federation in 1998, the federation has again become a vital part of agriculture.

"The restructuring was done so to enable a National Policy group to achieve favourable policy outcomes for rural New Zealand, and an Administration and Membership Services group that provides the vital, skilled membership services that is now a hallmark of the federation."

"I am pleased that enormous pride has been returned to the "brand" of Federated Farmers of New Zealand and a stream of new memberships is currently being evidenced for 2000, with subscription renewals at unprecedented levels in recent memory."

"Governance, management and all our staff have worked very hard to operate within the financial constraints set by the National Council, and I want to thank them for their efforts," said Mr Polson.

"It must be remembered that this result has not come about though reducing effectiveness. The federation has some very real achievements in 1999, for example ACC reform, abolition of stamp duty, the Personal Property Securities Act and a plethora of other central and local government issues, all affecting rural New Zealand, in particular those in farming."

ENDS For further information: Alistair Polson 025-370-085 Tony St. Clair 025-837-712

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