Kiwifruit marketer going for gold having global revenue of $4.47b

MOUNT MAUNGANUI: Zespri’s global revenue has topped $4 billion for the first time, despite a challenging season, the company says.

The kiwifruit marketer credited a record crop, investment in brandled demand creation and its industry’s ability to respond and leverage its scale for the record financial result in 202122.

In a statement, the Mount Maunganuibased company said its global operating revenue of $4.47 billion was up 15% on the previous year. It had a net profit after tax of $361.5 million.

Expected total dividends were $1.78.

Revenue from fruit sales was up 12% on the previous year to $4.03 billion and it sold 11% more trays — 201.5 million in more than 50 markets.

Direct returns to the New Zealand industry were a record $2.47 billion, including loyalty payments, despite Covid19 uncertainties and supply chain cost rises.

‘‘Earnings were again spread through regional communities, including within the Bay of Plenty, Northland, Nelson, Gisborne and the Waikato,’’ the company said.

Grower returns per hectare were the secondbest on record across all varieties.

The growerowned company has 2800 growers in New Zealand and 1500 growers offshore.

Zespri chairman Bruce Cameron said the results reflected a big effort across the industry to continue to operate safely throughout the challenges presented by the pandemic.

‘‘This was an extraordinary season where the industry faced some considerable headwinds in market, throughout the supply chain and on orchard, yet collectively we found a way to tackle the challenges and to continue to succeed.’’

Zespri chief executive Dan Mathieson said challenges the industry faced this season included the pandemic and ongoing supply chain disruption, shifting weather patterns, tightening regulations, changes to fruit flows, increasing competition in the market, labour shortages, lateseason fruit quality issues, significant cost increases and international trade challenges.

‘‘Exporters right around the world have been tested, and our industry again rose to the challenge to deliver strong results in the toughest of circumstances,’’ Mr Mathieson said. — Bay of Plenty Times