Bumper kiwi crop helped EastPack post $8.2m in after-tax profit
Chairman John Loughlin said the company was starting to show significant returns on the investment it had put into capital development over the last three years.
Revenues increased by 18 percent from $136.2m to $160.9m with the increase in volume of the SunGold variety and a record crop for Hayward. Earnings before interest, tax, depreciation, fair value adjustments and rebates of $34.1m was 33 per cent ahead of $25.7m in 2015.
The strong profit result flowed through to an increased rebate of 27c per transactor share compared to 20c in 2015, with investor shareholders also receiving an increased dividend of 8.64c compared to 7.20c per share in 2015.
Estimates for the 2017 season indicate less fruit compared with the 2016 season, but volumes are expected to rebound in 2018.
source: stuff.co.nz
