Zespri annual profit falls by almost two thirds on Psa costs, China fine

Tue, 28 May 2013

By Tina Morrison May 28 (BusinessDesk) – Zespri International, which controls exports of New Zealand kiwifruit, reduced its annual profit by almost two thirds after it increased spending to help the industry recover from the Psa vine bacteria and paid Chinese court fines. Profit dropped 63 percent to $7.6 million in the 12 months ended March 31, as global kiwifruit sales fell 4 percent to $1.56 billion, the Mt Maunganui-based company said in a statement. Excluding the impact of Psa (Pseudomonas Syringae pv actinidiae), profit would have falle...

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