Latest news with #JasonTeBrake
Yahoo
3 days ago
- Business
- Yahoo
Zespri targets doubling of sales in China
New Zealand-based kiwifruit marketer Zespri has signed MoUs with distributors and retailers in China in a bid to double its sales in the market over the next decade. In a statement, Zespri said the agreements were signed with its two largest distributors in China, Joy Wing Mau and Goodfarmer, as well as fruit retailers Pagoda and Xianfeng Fruit. According to Zespri, these four companies collectively account for approximately 80% of its business in China. Zespri CEO Jason Te Brake said annual sales from Greater China exceed NZ$1.4bn ($840m). 'We expect China to remain a strong market for us,' Te Brake said, adding the agreements 'will help increase both sales and the number of cities where Zespri Kiwifruit is available'. The MoUs set a joint goal to expand Zespri's market reach from 60 to 120 cities by the 2033/34 season. In the last season, Zespri exported more than 1.5 billion pieces of fruit to China. Te Brake, who took the role last May, said: 'This season we are on track to grow our volume in China by more than 8%, and with sales set to double over the next ten years, we are pleased to be right behind New Zealand's ambition to double the value of the country's exports.' He added, Zespri, which is majority owned by its fruit growers, is 'committed to continuing to invest and grow in the China' and 'delivering strong value back to our growers'. In 2024, 91% of Zespri's growers voted in favour of expanding the company's operations beyond New Zealand. The agreements coincide with Zespri's forecast for another record crop year. In the 2024/25 season, the company sold a record 220.9 million trays, up from 164.2 million trays in 2023/24. For the 2025/26 season, Zespri forecasts a total crop exceeding 205 million trays, equivalent to 738,000t. This season, Zespri has already shipped over 110 million trays of kiwifruit, constituting more than half of the total crop. The company's corporate net profit after tax, including licence revenue, is projected to be between NZ$248m and NZ$258m, up from NZ$155.2m last year. In 2024, Zespri's global operating revenue was NZ$5.14bn "Zespri targets doubling of sales in China" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
RNZ News
4 days ago
- Business
- RNZ News
Economic headwinds in Asia considered in Zespri's new season kiwifruit forecasts
Zespri SunGold Kiwifruit Photo: Zespri / supplied Kiwifruit marketer Zespri has updated its indicative forecasts for the current kiwifruit season, as its 2800 growers examine how well licensed varieties will bear fruit for them. Zespri was expecting another record crop for the 2025/26 season of around 200 million trays, more than half of which had already been shipped to global markets. Average orchard returns per hectare for this season are steady or higher for most varieties, compared to last year's. The highest per hectare returns were seen across SunGold at $171,000-$187,000 and SunGold Organic at $154,000-$172,000. Whereas, the lowest per hectare returns were for Green14 at $63,000-$75,000 and RubyRed at $74,000-$79,000. Higher per hectare returns were forecast across most varieties, when compared to last year 24/25's average rates . Most average returns per tray last season (2024/25) matched this season's forecast ranges - except for Organic SunGold and RubyRed, which were down. RubyRed was 75 cents lower per tray than last year. Green kiwifruit had the lowest return at $8.25 to $9.25 a tray, while RubyRed had the highest sitting at $15.25 to $16.25 per tray. Chief executive Jason te Brake said the sales programme for 2025/26 had started well, particularly in Europe and North America where it was seeing "strong demand". He said forecasts reflected increased yields this season, improved fruit size for Green and RubyRed and extra SunGold and RubyRed volumes coming from new orchards. "This forecast is encouraging, though there are some economic headwinds in Asia, including inflationary pressures in Japan and our teams are working hard to secure good value in generally softer market conditions," te Brake said. "We've now shipped more than 110 million trays of Zespri Kiwifruit, which is over half this season's total crop, with RubyRed sales now complete. Our teams in New Zealand and in market are focused on continuing the positive momentum we've started the season with to deliver strong value back to our growers." He said overall, the outlook was positive. On a per hectare basis, all ranges increased on guidance provided in March, except for RubyRed which nudged down $3000 a hectare at the lower end of the range. However, returns were forecast to fall for Green and Organic Green when compared to last season. A recent report by University of Waikato Professor Frank Scrimgeour on the risks the kiwifruit industry was facing under current governance, highlighted concern that fewer than half of the 2800 growers supplying Zespri were shareholders . "Shareholder interests are not identical to grower interests," Scrimgeour said in the report. However, te Brake said provisional uptake of the recent share alignment initiatives meant more than 60 percent of growers will own Zespri shares, up from 48 percent. "Aligning the commercial interests of growers - i.e. ensuring all growers and shareholders clearly see the benefit to them in new opportunities - will be critical to this. "With strong demand and the industry continuing to perform well we are making the right steps set ourselves up for the future and we're committed to continuing to do so." Last month, the kiwifruit marketer reported an after-tax profit of $155.2 million for the financial year, down 10 percent on last year to $173.3m. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Yahoo
5 days ago
- Business
- Yahoo
Zespri forecasts 'strong' kiwifruit season but adjusts price ranges
New Zealand kiwifruit grower Zespri is forecasting another record crop year but has selectively narrowed the price guidance for the 2025/26 season. Although the so-called orchard gate return (OGR) "indicative" forecast from the group signals a 'positive start' to the season, the firm has adjusted its price per tray ranges from the preliminary outlook released in March. For the Zespri Green kiwifruit variety, the range is now NZ$8.25 ($5.01) to NZ$9.25, compared to the March outlook of NZ$8-9.50. The Zespri SunGold Kiwifruit is expected to be between NZ$11-12 per tray versus NZ$11-12.50. For Zespri Organic Green, the range is projected at NZ$11-12.5, compared to NZ$10.50-12.50. According to CEO Jason Te Brake, the anticipated average returns per hectare for Green, Sweet Green, Organic Green, and Organic SunGold Kiwifruit are set to exceed the figures recorded in the prior year. The grown was attributed to 'increased yields', along with 'improvements' in fruit size and additional volume from new orchards. Te Brake said: 'We have another bumper crop of more than 200 million trays from New Zealand this season and our sales programmes have started well, particularly in Europe and North America where we have seen strong demand.' Despite the 'encouraging' forecast, the CEO, who took the role last May, warned of 'some economic headwinds in Asia, including inflationary pressures in Japan'. He added that the Zespri 'teams are working hard to secure good value in generally softer market conditions'. In the 2024/25 season, Zespri sold a record 220.9 million trays, up from 164.2 million trays in 2023/24. Zespri forecast in March, a total crop exceeding 205 million trays for 2025/26, equivalent to 738,000t. This season, Zespri said it has already shipped over 110 million trays of kiwifruit, which constitutes more than half of the total crop. The company's corporate net profit after tax, including licence revenue, is projected to be in the range of NZ$248m-NZ$258m, an increase from NZ$155.2m last year. In 2024, Zespri's 'global operating revenue' was NZ$5.14bn. Te Brake said that in addition to the priority of ensuring a successful season, the industry is also making progress on 'key strategic issues' such as boosting grower ownership in Zespri, with more than 60% of growers now holding shares, an increase from 48%. The development follows a 2024 grower vote, where 91% backed offshore expansion. The CEO went on to say that currently the company is 'developing our 2035 strategy to set our sights on the next ten years and how we ensure we are best positioned to deliver the greatest value to New Zealand growers'. "Zespri forecasts 'strong' kiwifruit season but adjusts price ranges " was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scoop
5 days ago
- Business
- Scoop
Zespri Forecasts Strong 2025/26 Season Returns For Growers
Zespri's indicative forecast for the 2025/26 season has the kiwifruit marketer on track to deliver strong value to growers in another record crop year. The indicative June 2025/26 OGR forecast reflects a positive start to the season, with ranges narrowed from the initial guidance provided in March 2025. CEO Jason Te Brake says average per hectare returns for Green, Sweet Green, Organic Green and Organic SunGold Kiwifruit are now forecast to exceed last year's record returns. 'This reflects this season's increased yields, improvements in our Green and RubyRed fruit size, and additional SunGold Kiwifruit and RubyRed Kiwifruit volume from newly producing orchards. 'We have another bumper crop of more than 200 million trays from New Zealand this season and our sales programmes have started well, particularly in Europe and North America where we've seen strong demand. 'This forecast is encouraging, though there are some economic headwinds in Asia, including inflationary pressures in Japan and our teams are working hard to secure good value in generally softer market conditions. 'We've now shipped more than 110 million trays of Zespri Kiwifruit which is over half this season's total crop, with RubyRed sales now complete, and our teams in New Zealand and in market are focused on continuing the positive momentum we've started the season with to deliver strong value back to our growers.' Zespri corporate net profit after tax including licence revenue is forecast to be $248-$258 million, up from $155.2 million last year. Mr Te Brake noted that while the focus remains on delivering the season well the industry was also making progress on key strategic issues. This included increasing grower ownership of Zespri, with the provisional uptake of the recent share alignment initiatives meaning more than 60% of growers will own Zespri shares, up from 48%. This also follows the successful grower vote in 2024 with 91% of growers supporting offshore expansion, supporting Zespri's ability to continue to lead the category. 'Our industry is creating significant value for growers and grower shareholders and the communities they support, and the outlook is positive with strong demand. We are currently developing our 2035 strategy to set our sights on the next ten years and how we ensure we are best positioned to deliver the greatest value to New Zealand growers. 'Aligning the commercial interests of growers – i.e. ensuring all growers and shareholders clearly see the benefit to them in new opportunities – will be critical to this. With strong demand and the industry continuing to perform well we are making the right steps set ourselves up for the future and we're committed to continuing to do so.' 2025/26 Indicative June OGR Forecast per tray and per hectare returns Pools (Fruit Categories) 2025/26 Indicative Per Tray Range – June Forecast 2025/26 Indicative Per Tray Range – 20 March Guidance 2025/26 Indicative Per Hectare Range – June Forecast 2025/26 Indicative Per Hectare Range – 20 March Guidance Zespri Green $8.25 - $9.25 $8.00 - $9.50 $95,000-$107,000 $86,000-$103,000 Zespri Organic Green $11.00 - $12.50 $10.50 - $12.50 $85,000-$97,000 $80,000-$95,000 Zespri SunGold Kiwifruit $11.00 - $12.00 $11.00 - $12.50 $171,000-$187,000 $162,000-$184,000 Zespri Organic SunGold Kiwifruit $13.50 - $15.00 $13.50 -$15.50 $154,000-$172,000 $147,000-$169,000 Zespri Green14 $9.00 - $10.75 $9.00-$11.00 $63,000-$75,000 $55,000-$69,000 Zespri RubyRed Kiwifruit* $15.25 - $16.25 $14.50-$16.50 $74,000-$79,000 $77,000-$88,000
RNZ News
22-05-2025
- Business
- RNZ News
Kiwifruit giant Zespri posts $155m profit, while corporate profit soars
Zespri's net corporate profit after tax, excluding revenue from licences, hit a record $79.8 million. Photo: Zespri Orchard gate returns have dipped across most kiwifruit varieties per tray in the 2024/2025 fruit season, off records last year, while marketing giant Zespri's corporate profits hit a record. The kiwifruit marketer has reported an after-tax profit of $155.2 million for the financial year, down 10 percent on last year to $173.3m. Meanwhile, the company's net corporate profit after tax, excluding revenue from licences, hit a record $79.8m, up 291 percent from $20.4m on the year prior. Zespri released fewer licences that growers required to plant the trademarked fruit, which ate into its profits through the season. For the country's 2800 kiwifruit growers, orchard gate returns were all down, except for Organic SunGold that was at a record $15.20 a tray, up 3 percent on last year's $14.71 per tray. The biggest annual drop was seen for Green down 12 percent off last year's record, to $8.36 per tray, followed by RubyRed down nearly 10 percent to $17 a tray. Zespri chief executive Jason Te Brake said strong sales were reflected in good demand from European Union markets. Photo: Supplied / Dscribe Media Chief executive Jason Te Brake said it dropped its planting licences down to 250 hectares from 400ha, in response to supply chain constraints and challenging global market conditions. "We increased our profit on being able to sell fruit, the underlying part of the business, for New Zealand supply and also for our Northern hemisphere fruit," he said. "But it was offset by a decrease of how much license we released last year, so we released a lower volume of licence which meant that we had a drop in profit." He said the drop came after a "good run" of high levels of licences, and was set to return to 400ha the following year. "We decided just to step back slightly as we went through some more tricky situations on the New Zealand front with some of the weather impacts and also some of the supply chain constraints that we'd seen." Orchard gate returns for Organic SunGold were at a record $15.20 a tray, up 3 percent on last year's $14.71 per tray. Photo: Zespri Meanwhile, he said strong sales were reflected in good demand from European Union markets like Germany, France and Spain, and North American market too, offset by lowered confidence in Asian markets. "We've increased both volume and value in our key markets despite downward pressure in the category and surpassed a significant milestone in reaching $5 billion in global fruit sales, exceeding our longstanding sales goal set a decade ago," he said. "We're returning really strong value to our growers, with our highest ever recorded direct returns to the New Zealand industry, breaking the $3 billion threshold in 2024/25." He said it would be good for growers to see the positive financial results. "[Growers] have invested heavily in the brand and our supply chain for the last decade, but also had some pretty challenging seasons in recent memory as well." Te Brake said for this season, 2025/26, it had been an exceptional harvest, and it was 20 percent through its sales programme with plenty more work to do. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
