PGG Wrightson projects stronger earnings for FY26

PGG Wrightson (PGW) chair, Garry Moore, announced an optimistic outlook for the financial year ending June 30, 2026, forecasting an operating EBITDA above $60 million. This projection surpasses the FY25 operating EBITDA of $56.1 million, with a further update expected after the key spring trading period.

The agricultural sector experienced a strong rebound in 2025, buoyed by robust export commodity prices and consumer demand, fostering renewed farmer confidence. This positive environment, marked by easing inflation and interest rates, benefits PGW's rural servicing operations, with strong commodity prices expected to continue through FY26, particularly for dairy, red meat, kiwifruit, and apples.

While some agricultural sub-sectors like arable farming and viticulture still face challenges, the overall sentiment for New Zealand's primary industries is positive and stabilised. The rural real estate market is also expected to maintain confidence throughout FY26, with quality listings attracting strong interest. Farmers are reportedly using elevated returns to reduce debt and reinvest in production.