Sweet success as Zespri hits a record

Kiwifruit marketer Zespri has reported record financial results for the 2020-21 season.

Total global operating revenue increased by 16 per cent to $3.89 billion, with Zespri’s net profit after tax at $290.5 million, almost $90m higher than the previous season.

Total global revenue from fruit sales was $3.58b, up 14 per cent on the previous year, with global sales volumes 10 per cent higher at 181.5m trays.

Direct returns to the New Zealand industry increased by 15 per cent to $2.25b, despite the challenges of Covid-19, said the grower-owned exporter.

Those earnings are spread beyond the kiwifruit growing heartland in the Bay of Plenty, with Northland, Nelson, Gisborne and Waikato also cashing in.

Zespri said returns were strong on both a per-tray and per-hectare basis.

The average return for Zespri Green per tray increased to $7.51, with the average return per hectare at $76,722.

The average return for bestseller Zespri SunGold rose to $12.46 per tray and a record average $177,846 per hectare. Organic SunGold fetched $12.46 per tray and the average return per hectare was $158,599.

Zespri organic green fruit reached an average return per tray of $10.53 and an average return of $66,453/ha. Zespri Sweet Green average return numbers were $10.14/tray and $56,853/ha.

Sales of Zespri-branded fruit not grown in New Zealand totalled $472.8m.

The expected dividend was $1.33 per share.

This year’s estimated revenue from growing licences is expected to be between $430m and $435m.

Zespri is wholly-owned by current and former kiwifruit growers. It works with 2800 New Zealand growers and 1500 growers overseas.