Zespri releases early profit range for 2016/17

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Matthew Jones



Zespri releases early profit range for 2016/17

Kiwifruit marketer poised for another solid financial performance, with orchard gate returns for gold looking strong

Zespri releases early profit range for 2016/17

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Zespri has released early projection ranges for orchard gate returns over the 2016/17 season, with gold kiwifruit set to be the biggest mover, according to Scoop Independent News.

The long-range forecast puts gold (predominantly Zespri SunGold) returns between NZ$7.80 and NZ$8.80 per tray, compared to a forecast of NZ$7.96 per tray for the 2015/16 season. Returns for the 2015/16 season will be finalised next month.

Zespri Green is expected to fetch between NZ$4.20 and NZ$5.20 per tray in 2016/17, a range inline with the February 2015/16 forecast of NZ$4.94. Zespri Green14 and Zespri Organic are forecast to deliver between NZ$6 and NZ$7 per tray for 2016/17.

The single-desk marketer has released an early profit range (after-tax) of NZ$25m to NZ$30m for the 2017 financial year. This excludes revenue set to be generated by the release of more SunGold licensing over the coming months.

The company continues to hold 1.7m trays of kiwifruit within its own distribution network after deposits of mechanical lubricant were found on some of its kiwifruit pocket packs. Scoop has reported Zespri is still considering whether to inspect and re-pack the quarantined stock or discard it.

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