His comments followed claims from former WNZ chief executive Ross Townshend that the wool marketing and sales company would ''almost certainly fail'' when it lost the wool market development commitment (WMDC) in two years.
Mr Townshend resigned last year, having previously been appointed to the role in mid-2013, following the company's capitalisation.
He told New Zealand Farmer recently that directors should seek to find a buyer for WNZ before it was too late and he believed it should be the New Zealand Merino Company.
In a statement, Mr Shadbolt said WNZ was making investments that were reducing the company's reliance on the WMDC, which grower shareholders committed to pay out of their clip when they funded the company's capital.
Initially, WNZ was ''totally reliant'' on WMDC but, over time, that reliance had been steadily decreasing as WNZ developed other revenue streams.
In 2013-14, WMDC was $2.2 million, representing 20% of gross revenue. For 2015-16, the expected WMDC would be $2.6 million, representing less than 8% of expected total revenue, he said.
WNZ expected its revenues would continue to increase due to commercial activity.
The company was making ''strong commercial progress''. It expected a maiden operating profit of more than $600,000 and a net after-tax profit of more than $1.1 million for the year ended June 30.
''We've always known and planned for the WMDC to conclude in June 2018 and thereafter for the business to be in a position to be self-supporting and profitable,'' Mr Shadbolt said.
WNZ expected its revenue to keep rising as it did more business. Income from the WMDC would also rise, but only because it was handling more wool.
''As a grower, I am bitterly disappointed with the ongoing destructive behaviour of individuals and entities who would rather see the ongoing exodus of growers rather than a thriving and prosperous sheep industry,'' he said.
WNZ had made strong progress in the past 15 months, rolling out an improved ''Direct to Scour'' processing and sales model, investing in technology to differentiate WNZ fibre and increasing the value of WNZ brands and grower contracts, he said.
