Revenue hits high at Ravensdown

Ravensdown's annual meeting is this year being held in Taranaki for the first time in 14 years.

It is a perfect closure for chief executive Rodney Green who retires at the end of this year, with his first general meeting on being appointed 14 years ago held in Hawera.

He is going out on a high, with Ravensdown's financial year ending May positioning it as the first fertiliser company in New Zealand to exceed one billion dollars in annual revenue.

Manager Mike Davey says the 2011/2012 year was a "perfect storm" for farming.

"We had low interest rates, good pasture growth and encouraging commodity prices in the dry stock and dairy sector. Never before in my 30 years in the industry have I seen all commodity prices on the up like in the last financial year."

In Taranaki, he says, they had strong sales on the back of a good season: good pasture growth right through autumn, not having had the traditional dry spell over January to February.

"This year is going to be more fickle with commodities price down."

Another milestone to celebrate at the annual meeting, says Mike, is Ravensdown's purchase 14 years ago of the Taranaki operation of Farmers Fertiliser Limited.

The meeting on September 24 will be held at the New Plymouth Racecourse.