ORANGE COUNTY, CA - Despite difficulties, Zespri is reflecting on the 2023/24 season with record average per-tray returns to growers across all categories, excluding a single offering. As the company unveiled the financial results from the period, Chief Executive Officer Dan Mathieson said the results reflect industry efforts.
“We’re delighted to be able to deliver such a strong set of returns to growers, including record per tray returns for all categories other than Organic SunGold, particularly after such a challenging period for the industry," Mathieson stated. “It’s really pleasing to see a significant increase in Green returns, up from $5.78 to $9.55 per tray, which is welcome news given how tough it’s been for our Green growers in recent seasons and the difficult growing conditions we’ve faced. These strong per tray returns have been driven by improved quality and good pricing alongside our investment in the brand and ability to build demand ahead of supply.”
In the summary of the financial results, the company highlighted the following:
- Zespri global operating revenue: NZ$4.21 billion (includes license revenue)
- Zespri global fruit sales revenue: NZ$3.99 billion
- Total 2023 Season New Zealand-grown fruit and service payments including loyalty premium: $2.29 billion
- Zespri global trays sold: 164.2 million trays
- Zespri’s net profit after tax: NZ$173.3 million (includes license revenue)
- Expected Total Dividends: NZ$0.85 per share
Some standout results, Mathieson continued, were seen in some of Zespri’s major markets.
“We’re really pleased with how things have gone in Europe, particularly in being able to deliver really strong value for our Green growers, and that’s been supported by strong value for Green fruit in Japan too," Mathieson continued. "China was a standout in terms of being able to deliver strong value for SunGold, reflecting the demand we’re continuing to see for this variety. RubyRed Kiwifruit is also continuing to perform strongly and offers us a great platform to start our season in our Asia Pacific markets. It’s been tougher for our organic categories, particularly on a per hectare level where a really big drop in yields has made it challenging, and continuing to lift per hectare returns across all categories as we manage greater volumes remains a focus for us looking ahead.”
In addition to the 2023/24 season results, Zespri’s leader was delighted at the strong start to the current 2024 season. To read in more detail on the report, click here.
With strong demand for Zespri’s kiwifruit encouraging the company and its customers, AndNowUKnow will continue to report on the events ahead for this and other key categories in our industry.
