Kiwifruit post harvest supplier EastPack is forecasting a $6.2 million profit before tax, after paying 20 cents per tray rebate in June 2012, for the year ending 31 December 2012.
EastPack, New Zealand's largest wholly grower owned kiwifruit post harvest cooperative, will maintain investor share dividends at 15c per share, and continues to reduce overall company debt. EastPack expects to halve its debt to just $5 million for the year end. The share dividend will be paid later this month and in March 2013.
The company anticipates its average 2012 Orchard Gate Return (OGR) for EastPack Green growers to increase 17 cents per tray to $4.68 per tray - amongst the highest OGR in the industry and above ZESPRI's average of $4.33 per tray.
Other 2012 highlights include achieving a further 10c reduction per tray in operating costs without any staff reductions, acquiring 2.3million trays from growers coming to EastPack for the first time (to replace gold trays lost to PSA), reducing packing prices by 20c per tray whilst maintaining profitability, and further reducing fruit loss to very low levels.
EastPack Chairman Ray Sharp attributes EastPack's continued positive financial performance to the company's focus on quality, productivity gains and supporting growers and staff to improve on orchard productivity through tech transfer and grower services.