Farmer News
1 June, 2025
More growth on the horizon
GENETICS Australia is poised for more growth on the back of a successful joint venture with the URUS group.
The Genetics Australia Co-operative (GAC) annual meeting at Camperdown on May 14 was told that the Co-operative had recorded a profit of $466,571 for the six months ending December 31, 2024, along with an equity increase of $1.36 million.
The Co-operative’s financial year has changed to follow a calendar year in line with joint venture partner URUS.
GAC leases land to Genetics Australia Holdings (GAH), the joint venture company established in partnership with URUS.
Chairman John Pekin said the good financial result was due to a strong performance by GAH and the equity increase stemmed from a positive revaluation of properties.
“From a shareholder’s point of view, this is a wonderful result and affirmation of our decision to join forces with URUS,” Mr Pekin said.
“We can see the implementation of the services and technology having a real effect on productivity and efficiency.”
Joint venture profits are being used to build up reserves in support of the anticipated expansion of operations.
Mr Pekin said the GAC board would continue to protect and grow its strong asset base.
An example of this was GAC’s November 2024 purchase of 33.5ha of land joining the Camperdown business.
“This move not only enables the GAH business room to grow, but also provides a larger buffer for biosecurity and an alternate entrance to the properties,” Mr Pekin said.
“This was another strategic initiative the board identified and has now completed.”
Mr Pekin said the future looked bright.
“We are fully invested, both strategically and financially, in making Genetics Australia the global leader of grazing genetics.”
Chairman John Pekin