Improved farming conditions following the recovery from last year's drought have had a flow-on effect for the country's biggest rural services operator, PGG Wrightson.
They've contributed to a strong half-year financial result for the group, with revenue up by 8 percent on last year and net profit after tax almost tripling from $4.8 million to $13.4 million.
In its first result achieved under new chief executive Mark Dewdney, the company also lifted its operating profit 23.8% for the six months to December.
Mr Dewdney said earnings for most of its core businesses improved, with wool the one exception.
"Reductions in capital stock is a consequence of the drought, and the ongoing move towards dairy and dairy support has resulted in overall a lowering of wool volumes that are coming through our logistics operation and our auction facilities."
Overall earnings for livestock operations were up slightly for the half-year, despite the decline in sheep numbers.
"In our view that's a good result in a business which has faced some headwinds," Mr Dewdney said.
