23 May 2019

Zespri reports big jump in profits

11:23 am on 23 May 2019

Kiwifruit giant Zespri has reported a net profit for the year to March of $179.8, up from $101.8 million a year earlier.

Kiwifruit. Zespri.

Zespri's total revenue rose by 26 percent. Photo: 123RF

Total revenue rose by 26 percent.

The company also reported positive news regarding its volumes of production.

It sold 167.2 million trays of kiwifruit in the year, up from 138.6 million trays the previous year.

Total returns to growers, including loyalty payments, rose 24 percent while returns per hectare increased as well.

Zespri Chair Bruce Cameron said demand for kiwifruit was growing world-wide.

"Zespri's success reflects important partnerships with customers, distributors, post-harvest operators and growers," Mr Cameron said.

He said the total dividend per share was expected to be $0.92 versus $0.50 a year earlier.

Zespri Chief Executive Dan Mathieson said there was strong growth in large markets like Japan, China and Spain, and there was also progress in newer markets like the US.