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Strong 2019/20 financial result for Zespri

Zespri’s 2019/20 Financial Results show total fruit and service payments, which are returns direct to the New Zealand industry, increased by 8 percent year on year to NZ$1.96 billion.

Zespri’s total operating revenue was NZ$3.36 billion, up from NZ$3.14 billion, with global revenue from fruit sales increasing by 7 percent to NZ$3.14 billion. This was based on the sale of 164.4 million trays of New Zealand and non-New Zealand-grown kiwifruit, a 2 percent reduction on the previous year.

There were strong results across each fruit category:
• The average Green per tray return increased to NZ$6.67, with the average per hectare return for Green reaching a record high of NZ$67,295.
• Organic Green reached an average return per tray of NZ$9.88, with the average per hectare return reaching NZ$63,734.
• The SunGold average return per tray increased to NZ$11.86, and the average return per hectare was also a record NZ$161,660.
• Sweet Green achieved an average return per tray of NZ$7.66 and an average return per hectare of NZ$43,550.

The 2019 SunGold licence release round generated gross licence revenue (excluding GST) of NZ$211.9 million.

Zespri’s Net profit after tax was NZ$200.8 million, up from $179.8 million in 2018/19. The Board expects the total dividend for 2019/20 to be $0.94 per share, up slightly from $0.92 in 2018/19.

Chief Executive Dan Mathieson says it was an incredibly encouraging year, with the industry working hard in New Zealand and the markets to manage quality and deliver more than 5 billion pieces of Zespri Kiwifruit to people all over the world.

“Overall, 2019/20 was another strong year for Zespri with continued growth in our largest markets including Japan, Greater China and Europe. On top of strong returns we achieved some real milestones last season including commercialising the new Zespri Red Kiwifruit variety, opening our new Head Office in Mount Maunganui, launching our new brand, announcing our sustainability targets and investing more than ever in communities."

Outlook 2021
Mr Mathieson says 2020/21 is shaping up as another strong year.
“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.

“This coming season is one of our best-ever tasting crops and largest by volume, albeit with smaller Green due to the dry weather. 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.

“Risks to our outlook include wider concerns around consumer purchasing power being negatively affected by the global economic turmoil, changes to the normal flow of fruit trade and also potential
disruption across our global supply chains. Zespri remains focused on ensuring we’re able to respond to such eventualities and on delivering returns to growers,” Mr Mathieson says.

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