fbpx
Print this page
Thursday, 07 June 2018 07:55

Zespri's profit up 38%

Written by 
Zespri chief executive Dan Mathieson. Zespri chief executive Dan Mathieson.

Zespri's net profit — after tax — for 2017-18 increased by 38% to $101.8 million. 

It says the result was primarily driven by revenues from the release of 400ha of SunGold licence in 2017, as part of Zespri’s continuing programme to fulfil consumer demand. 

The total dividend returned to shareholders was 76 cents per share, versus 25c/share in the previous season. The payout included an additional interim dividend of 50c/share to distribute most of the funds generated through the 2017 SunGold licence round. 

Sales volumes through the non-New Zealand supply segment, that enables Zespri to supply consumers with kiwifruit 12 months of the year, fell by 8%.

Supply of Green was reduced because of a damaging frost in Italy. However, SunGold sales in Italy increased to offset the fall, with the Zespri Global Supply business recording total sales revenue of $264m, up from $217m in 2016-17.

Zespri chief executive Dan Mathieson says they anticipate record production of NZ and non-NZ kiwifruit this year driven by increasing supply of SunGold and a recovery in supply of Green.  

“Our challenge is to continue to lift our performance by staying focused on improving the execution of our brand-led, consumer-focused strategy, supported by excellence in marketing and strong, connected partnerships with growers, suppliers, distributors and retail partners.”

More like this

Positive first year for ZAG fund

As it enters its second year, Zespri says the first year of the Zespri Innovation Fund (ZAG), has been “really positive”.

Export prices set to remain elevated

Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.

Featured

Trial shows benefits of spring nitrogen use

A landmark New Zealand trial has confirmed what many farmers have long suspected - that strategic spring nitrogen use not only boosts pasture growth but delivers measurable gains in lamb growth and ewe condition.

Eric Roy: Championing the pork industry

It was recently announced that former MP and Southland farmer Eric Roy has stepped down of New Zealand Pork after seven years. Leo Argent talks with Eric about his time at the organisation and what the future may hold.

National

Machinery & Products