11 Jun 2020

Zespri reports $200 million profit

10:04 am on 11 June 2020

Kiwifruit exporter Zespri has reported a strong rise in profit on the back of record returns for some varieties.

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Zespri chief executive Dan Mathieson. Photo: Zespri

Its profit for the year ended March was $200 million compared with nearly $180m the year prior.

Sales rose 7 percent to more than $3 billion with its Green and Sungold varieties hitting record levels.

Zespri chief executive Dan Mathieson said while the volume of fruit in last season's crop was slightly down, that was offset by strong prices and good demand out of key markets.

"We're continuing to see strong growth in our largest markets, including Japan, China and Spain, and making real progress in newer ones like the US and also continuing our efforts to get closer to consumers and to broaden our sales channels," Mathieson said.

Mathieson said the 2020/21 season was shaping up as another strong year.

He said despite the Covid-19 lockdown in New Zealand co-inciding with the peak of the kiwifruit harvest - the industry had managed to get through in good shape.

"The response from the industry to Covid-19 has been incredible, coming together to ensure we could get fruit off the vines and into market in spite of the restrictions both here and offshore."

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