Net profit in the year to March 31 rose to $200.8 million from $178.9m a year earlier.
Operating revenue was $3.36 billion with fruit sales of $3.14b. Zespri sold 164.4 million trays of New Zealand and overseas-grown kiwifruit, a 2% decline on the year.
Total fruit and service payments, which are returns to growers, increased 8% to $1.96b.
The board expects to pay a dividend of 94 cents a share, up from 92 cents the prior year.
Zespri has 2800 growers in New Zealand and 1800 elsewhere.
“Overall, 2019-20 was another strong year for Zespri with continued growth in our largest markets including Japan, Greater China and Europe,” chief executive Dan Mathieson said.
Mathieson said 2020-21 is shaping up to be another solid year despite the impact of covid-19.
Zespri was named an essential service so operated throughout the lockdown after implementing safety protocols.
“The response from the industry to covid-19 has been incredible, coming together to ensure we could get fruit off the vines and into market in spite of the restrictions both here and offshore,” he said.
The latest season is one of the largest by volume, albeit with smaller green fruit because of dry weather, and global demand is significant, he said.
“Risks to our outlook include wider concerns around consumer purchasing power being negatively affected by the global economic turmoil, changes to the normal flow of fruit trade and also potential disruption across our global supply chains.
“Zespri remains focused on ensuring we’re able to respond to such eventualities and on delivering returns to growers,” he said. – BusinessDesk
