Thursday, August 18, 2022

Golden glow on Zespri profit figures

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Zespri has announced a record level of revenue after a tough season, topping $4.47 billion in earnings a lift on 12% on the previous year.

The earnings include licence revenue and comprise $4.03b from all global fruit sales, from a record setting 201.5 million trays of fruit sold.  

The marketer’s net profit after tax was a record setting $361.5m, up from $277.1m the year before, with continuing demand for the SunGold licences buoying profit levels. 

Zespri returned $2.47b back to growers as payments.

Zespri chairman Bruce Cameron says the results reflected the efforts by the industry to continue to operate safely throughout the challenges presented throughout 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.

“Most pleasingly, not only have we delivered strong returns for growers including our second-highest per hectare returns, we’ve strengthened our partnerships across our global supply chain, continued to make positive contributions to our communities, and made decisions as an industry to set ourselves up for sustained success,” Cameron said.

“This was an extraordinary season where the industry faced some considerable headwinds in market, throughout the supply chain and on orchard.”

Bruce Cameron
Zespri

The average return for Zespri Green per tray was $6.35 and for SunGold $11.51, with an average return per hectare of $176,026.

Chief executive Dan Mathieson says Zespri’s continued investment in brand building and long-term supply chain partnerships have enabled the company to avoid the worst of the global shipping crisis with greater use of charter ships.

He said the offshore crop volumes grown under licence for Zespri also continue to perform well. 

The marketer now has 26.5m trays grown under contract offshore, contributing $410m to revenue streams.

“The growth of our offshore production remains critically important, boosting our efforts to serve our consumers year-round, helping to hold our shelf space, make our marketing investment more efficient and to maintain commercial partnerships to allow us to launch our New Zealand sales season.”

Mathieson acknowledged the current season continues to face challenges, with continuing impacts of global supply chains as a result of the pandemic’s aftermath, particularly on shipping networks.

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