Revenue, grower returns and net profit climb in 2021/22, despite challenging trade conditions
Zespri has surpassed NZ$4bn in sales revenue for the first time.
Reporting on its 2021/22 season results, the New Zealand-based kiwifruit marketer said global fruit sales revenue hit NZ$4.03bn, up 12 per cent on the 2020/21 campaign.
Global sales volumes also increased 11 per cent on the previous year to 201.5m trays.
Total global operating revenue rose 15 per cent year-on-year to NZ$4.47bn in 2021/22.
Zespri’s non-New Zealand supply sales increased to NZ$536.9m.
Net profit (after tax) came in NZ$361.5m, a record result and up from the 2020/21 restated profit of NZ$277.1m, led by an overall strong performance and by the continued demand for Zespri SunGold licence.
The results saw direct returns to the New Zealand industry increase to NZ$2.47bn, including loyalty payments, despite the considerable uncertainty generated by the Covid-19 pandemic and cost increases across the supply chain.
Zespri chairman Bruce Cameron said the results reflected the kiwifruit industry’s ability to continue operating safely throughout the challenges presented by 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,” Cameron said.
“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.”
New season outlook
The New Zealand kiwifruit industry has revised its 2022/23 crop forecast, with volumes lower than initially expected. This year’s SunGold and Zespri RubyRed harvests are now complete, with green (Hayward) packing in full swing.
Zespri chief executive, Dan Mathieson, said challenges remain in the current season, with the pandemic continuing to impact the global supply chain, particularly shipping networks.
“We know the current season is a tougher scenario but the industry continues to adapt and work together to make sure we’re meeting the growing demand for our fruit, managing the uncertainty and challenges and working towards another strong result,” Mathieson said.
“The future of our industry is incredibly bright, with strong growth opportunities ahead of us and we’re committed to meeting those.”