Western Bay of Plenty kiwifruit post-harvest operator DMS has announced a record 2015/16 profit, alongside news of a major $12.5 million investment at its Te Puna site.
The company's financial results, released at its annual general meeting in Tauranga yesterday evening, showed a profit before tax and distributions of $6.95 million, up from $3.13 million the previous year. The growers' rebate increased to 30c, up from 20c in the previous corresponding period.
The 2016/17 season also saw DMS process what was for the company a record volume of fruit - 10.7 million class 1 trays, up from 4.8 million back in 2013. DMS says its market share has increased from 5.6 per cent to 7.2 per cent.
Craig Greenlees, who is joint managing director of DMS with Paul Jones, said the 2016 results were based on the company's focus on quality, as well as the recovery of the wider industry.
"In 2013 we put a stake in the ground to champion for the G3 [Sungold] variety as the future for the industry in the post-PSA environment," he said.