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Wednesday, 30 August 2023 14:55

Sour taste

Written by  The Hound
Sour taste

OPINION: Sour taste Your old mate suggests the country’s struggling kiwifruit growers will find the latest pay increases to executives at Zespri very hard to swallow.

According to the kiwifruit marketer, the $10 million increase payments to employees - in a year when the kiwifruit marketer’s net profit fell by nearly 34% - is due to the company ‘keeping on top of its game’.

The kiwifruit exporter’s annual report for 2023 shows employee remuneration and benefits rose nearly 7% from $140.6m to $150.3m, while net profit after taxation fell to $238.7m from $361.5m in FY22.

Net profit before tax was $331.2m in FY23 compared to $505.1m the previous financial year.

It looks like chief executive Dan Mathieson got a pay rise.

The report shows the top earner in the company had a total remuneration and benefits range of $1.990m-$1.999m compared to $1.880m-$1.889m in FY22. All right for some!

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