Satara kiwifruit

New Zealand kiwifruit cooperative Satara has revealed that it turned in a profit of NZ$1.1m through the first half (H1) of the year, recovering well from the loss of NZ$279,000 it recorded in the same period of 2010.

The group saw revenue jump 9 per cent year-on-year to some NZ$33.8m, as volumes increased and a number of new growers joined the cooperative, tvnz reported.

'Satara's market share has remained steady coming into the 2011 season and is showing signs of growth in an extremely competitive environment,' the group noted.

According to Satara, the outbreak of Psa in the country had forced it to write-down assets by around NZ$4.5m, having also abandoned its merger with Eastpack in the wake of the discovery.