Tauranga rural supply operators Ballance Agri-Nutrients have achieved record sales and returned $76 million to shareholders.

Chairman David Peacocke confirmed the figures at their annual meeting of shareholders on Wednesday.

Ballance Agri-Nutrients have posted record sales. Photo: File.

The result for the financial year ended May 31 2015 capped off a milestone year for the co-operative, which celebrates 60 years since the first shares in legacy company Bay of Plenty Fertiliser were issued.

The co-operative 'not only survives, but also thrives,” says David.

'What has changed is that farmers are busier, operating over larger properties and working within increasingly tight environmental demands.

'So along with a secure supply of the right nutrients, we continually broaden our scope to tailor our products, our technology solutions and our advice for today's farms, and the farms of the future.”

Understanding and making the most of change it will put Ballance in good stead for the next six decades, insists CEO Mark Wynne.

'It's obvious there will be a lot of change,” says Mark. 'The trend to fewer larger farms and the focus on farming within limits, driven by regulations, will continue.

'We can also expect to see more demands put on us by consumers and customers because public perception can make or break a business.

'We will stay close to farmers, while interpreting market changes for them and shopping the world for trends, new ideas, legislation, science and technology so farmers remain sustainable and profitable.”

Shareholders approved constitutional changes at the annual meeting, which will see the co-op move from three wards to two (one in each island), with provisions for the board to move to national director elections over time.

'With Ballance now close to being a $1 billion business, it was important shareholders could choose from a deep pool of candidates to select the best directors with the best skills and experiences,” says David.