Zespri profit falls 34% from record result on dwindling sales, skinnier margins

The kiwifruit marketer’s global ambitions were crimped. (Image: Zespri)

Tue, 30 May 2023

Zespri International posted a 34.1% decline in annual profit as lower sales volumes and more expensive freight and labour squeezed margins. Net profit fell to $237.8 million in the 12 months ended March, from $361.5m, on a 5.6% dip in annual revenue to $4.22 billion. Global sales volumes shrank 8.9% to 183.5 million trays while licence income dropped to $308.1m from $436.7m. Payments to growers fell to $2.24b from $2.47b. Returns per tray for green and SunGold kiwifruit fell below Zespri’s forecast, along with returns for orga...

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