UPDATED 7.59pm: There's a demand for answers from the Government on what it will do to stop a further slide in Landcorp's profits.

It's down 84 percent for the year ending June, recording a net profit of $4.9 million dollars, a drop of $20 million on last year. 

Labour's state owned enterprises spokesperson Clayton Cosgrove said it's hard to know if that's true, because there's very little information being made available.

"The Government should come clean. They should tell us what they've been doing, what the B plan is and whether they've actively been working with, not dictating to, but working with the board."

Landcorp Chief Executive, Steven Carden, said it's been a tough year, with record low dairy prices, lower lamb prices, and tough growing conditions.

He said things might have proved even tougher had Landcorp not secured a significant volume of supply deal.

"We took advantage of Fonterra's guaranteed milk price over the course of last year which certainly helped reduce the risk and reduce the downside of milk price fall."

Steve Carden said that strategy will continue.