AgResearch Annual Report 08/09

AgResearch made significant scientific achievements that will benefit farmers, the agricultural sector and New Zealand in the 2008/09 year according to the AgResearch Annual Report highlights released yesterday.

“These harsh times have underscored the importance of the pastoral sector to our economy and the critical role science plays in its vitality. For AgResearch this was a year of significant scientific progress amid a rapidly changing global agribusiness and economic landscape. AgResearch has not been immune to the recessionary climate, but has responded realistically,” said Sam Robinson, Chairman of AgResearch.

Dr Andrew West, AgResearch’s Chief Executive, was positive, “despite a tough operating environment, AgResearch has continued to produce wonderful science of significant benefit to the agricultural sector, and 2008/09 was a year with many highlights.”

Key achievements included:

*Creation of the ‘Centre of Reproduction and Genomics’ with the University of Otago;

*Investment in Tokanui, a fully modernized research farm;

*Publishing the full sequence of the Bovine genome;

*Sequencing the Ovine genome;

*Sequencing the genome of a rumen methanogenic microbe;

*Developing and strengthening strong collaborative relationships with Lincoln, Auckland, Massey, and Otago Universities;

*Production of high lipid GM ryegrass and highly digestible alfalfa;

*Formation of ParaCo, a subsidiary company working on ways to better control livestock parasites;

*Commercialising of technology allowing traceability and authentication for New Zealand woollen carpets; and

*Establishment of the Pastoral Foods for Human Health Research Centre with the Liggins Institute.

The Annual Report announced a small after tax loss of $754,000, noted staff losses and the reduction in some activities

Chief Executive Dr Andrew West said that despite this loss the outcome was in part encouraging, “AgResearch earnings before interest, reinvestment, restructuring and tax were $9million (50% up on last year), representing a 6% gross margin, achieved through 4% operating revenue growth and 2% operating expenditure growth. The reinvestment amount mainly comprised investment in commercialisation and in important collaborative relationships.”

AgResearch’s Chairman Sam Robinson is pleased with the commitment of the AgResearch team, “I would like to acknowledge and thank our Chief Executive Dr Andrew West and his team of scientific, technical and support staff for all their work during a challenging year. They are truly the heart of this organisation, and New Zealand is fortunate to have such a committed group of people that enables AgResearch to punch above its weight internationally.”

Annual Report

http://www.agresearch.co.nz/publications/annualreport.aspx

The Highlights of the Annual Report are summarised in these videos:

AgResearch Annual Report 2009 Video #1 Chairman’s overview - Sam Robinson
">http://www.youtube.com/watch?v=AOCvOmTQcNg

AgResearch Annual Report 2009 Video #2 Chief Executive’s Report - Dr Andrew West
http://www.youtube.com/watch?v=L_re1u8Edrk

AgResearch Annual Report 2009 Video #3 Food & Textiles -Professor Warren McNabb
http://www.youtube.com/watch?v=IN17r-kL430

AgResearch Annual Report Video #4 Agricultural & Environment - Peter Benfell
http://www.youtube.com/watch?v=DEgMV4bzVVE

AgResearch Annual Report Video #5 Applied Biotechnologies - Dr Jimmy Suttie
http://www.youtube.com/watch?v=OXdp_X6KjNQ

AgResearch Annual Report Video #6 Science Strategy - Dr Travis Glare
http://www.youtube.com/watch?v=AXXF6vhqrOA

AgResearch Annual Report Video #7 Rural Futures - Dr Liz Wedderburn
http://www.youtube.com/watch?v=TN1kfqbF0V8

AgResearch Annual Report Video #8 Financial Overview- Geoff Balme
">http://www.youtube.com/watch?v=I6qOgjR-1LE

ENDS

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