3 NZX agriculture stocks that can be considered in January 2022

Highlights

• The NZ agriculture sector remained resilient during recent COVID-19-induced lockdowns and restrictions.
• Seeka announces the departure of its Chief Financial Officer with a new replacement.
• Livestock Improvement Corporation reports strong half-year performance, underpinned huge demand for its artificial breeding and herd testing services.

Agriculture is one of the prime sectors of New Zealand's economy, which contributes a major chunk towards the country’s GDP. The sector produces a wide range of world-class horticultural, dairy and meat products, which are distributed across the globe.

Further, despite facing uncertainties related to COVID-19, agriculture companies demonstrated resilience and navigated successfully through tough times.

With this backdrop, let us look at the three popular NZX-listed agriculture companies.

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Seeka Limited (NZX:SEK)

Seeka Limited is a famous horticulture company engaged in the processing and distribution of products worldwide. A few days ago, the Company disclosed the retirement of Mr Stuart McKinstry, its CFO, by April end.

Related Read: Which are 4 popular NZX food stocks to consider in 2022?

The position would then be taken up by Mrs Nicola Neilson, SEK’s Group Financial Controller, who is currently on maternity leave.

At the closing bell, on 28 January, Seeka declined by 1.17% at NZ$5.090.

Scales Corporation Limited (NZX:SCL)

Being a diversified agricultural company, Scales Corporation Limited, is focused on offering essential services to the NZ primary sector.

On 24 February, SCL will publish its yearly performance for the period ended 31 December 2021.

The result announcement will then be followed by a conference call.

At the closing bell, on 28 January, Scales Corporation was down by 3.60% at NZ$4.820.

Do Read: Are these 5 NZX dividend stocks worth considering in 2022?

Livestock Improvement Corporation Limited (NZX:LIC)

Livestock Improvement Corporation Limited, NZ’s famous agri-tech company has posted its strong half-year result for the period ended 30 November 2021, despite facing restrictions due to the pandemic and increased cost pressures.

Bolstered by huge demand for its artificial breeding and herd testing services, LIC reported a 5.4% increase in its revenue, amounting to NZ$169.4 million for the said duration.

Also, its EBITDA stood at NZ$61.2 million, a climb of 4.7% on pcp.

Moreover, the co-operative has forecasted its underlying earnings of NZ$22 million-NZ$26 million for the current year and between NZ$20 million-NZ$26 million for 2022-23.

At the closing bell, on 28 January, Livestock Improvement Corporation jumped by 3.85% at NZ$1.350.

Bottom Line

New Zealand’s agriculture sector is known to deploy highly advanced and mechanised machines and agricultural practices, thereby aiming to become the top agriculture sector across the globe.