PGG Wrightson is maintaining a bullish outlook above market expectations after announcing a rise of 80% rise in net annual profit.
Net annual profit leapt to $73.2 million in the year to the end of June, due to performance improvements in each of its business units.
The rural services company says it expects profit for the current year to be between $50 - $55 million, including a $4.2 million performance fee on NZ Farming Systems Uruguay.
That's above market expectations of around $44 million.
Chief executive Tim Miles says PGG Wrightson expects to benefit from structural changes within the meat and wool industries.
Shareholders are due to vote next month on a proposal to invest in the meat processor, Silver Fern Farms.