Sales for the year to December 31 were up 18% on the previous year on the back of growing global demand for sheep and beef products and the company’s shift into higher-value food and healthcare products but a squeeze on margins affected profits.
That included investment in wholly-owned subsidiary Bovogen, which produces blood and serum products.
Anzco said it set a record in paying farmers $943m for stock.
Owned by Japanese food company Itoham Yonekyu Holdings, Anzco reported growth in all key markets of Japan, China, Europe, North America and the Middle East.
It invested $18.3m on capital works including $11.5m on x-ray and automated cutting equipment at the Rangitikei sheep meat plant.
A supply chain and logistics review identified efficiencies that led to a series of changes.
“The changes have delivered a stronger and more customer-responsive supply chain with greater focus on sales and optimisation functions in the business.”
The health and safety of Anzco’s 3000 employees is a priority and a programme, Work Safe Home Safe, is showing positive results.
“Anzco Foods has seen improvements in all key areas, including a reduction in notifiable events and an increase in near-miss reporting.”
Changes to add value and improve profits have already started affecting company performance, it said.
