Bay of Plenty Fertiliser has re-branded itself as Ballance Agri-Nutrients and announced record sales of 1.35 million tonnes of fertiliser in the year to May 31.
The sales were up 11 per cent on the previous year's record of 1.22 million tonnes.
The company - which includes subsidiaries SouthFert and Petrochem -
also achieved record sales of 300,000 tonnes of urea, from record production at its ammonia urea plant at Kapuni which lifted its output by 14 per cent.
Company chairman Peter Jensen and chief executive Larry Bilodeau announced the change of corporate name at the National Agricultural Fieldays near Hamilton.
The Mt Maunganui-based group is partly owned by Norwegian industrial giant Norsk Hydro, which is controlled by the Norwegian Government.
In the past few years, the company has grown from its traditional markets of the Bay of Plenty, Waikato, Otago and Southland into Northland, Canterbury, Taranaki, and Manawatu-Rangitikei to compete head to head with South Island rival Ravensdown.
Mr Bilodeau said the company had had a great year.
"We expect to make a good profit result announcement in late July or early August, with a figure up on last year's $25 million profit," he said.
Heavier spending on fertiliser by sheep and cattle farmers, who experienced their best returns for some years, was a key factor in the increased sales.
Mr Bilodeau said this was most notable in Southland - the home ground of Ravensdown - where sales were up more than 250 per cent in January.
In Southland, the company had difficulty meeting the unprecedented demand, which continued into autumn.
An increase in the use of high-analysis fertiliser products had been noticeable in the year's sales, although superphosphate production was also well up on last year and continued to dominate sales.
The company planned to invest $2 million in research and development of new and improved products, and would announce its financial results for the year in late July or early August.
Mr Jensen said the company had been renamed after Liberal Prime Minister John Ballance, who died in office in 1893. He had battled to get more people on to the land to reduce unemployment.
Agri-Nutrients described the type of products the company sold.
- NZPA
