Zespri International has advised kiwifruit growers that the board has approved a net after tax profit forecast in the range of $13 to $15 million for the financial year to March 31, 2014.
The forecast is well up on last year's actual after-tax profit of $7.6 million, but that included provisions for Psa funding as well as legal costs from the invoicing issues in China.
The 2013 season remains on track to return the highest average per-hectare green return to growers so far, and returns are up for all categories on the December forecast except for Green14, which remained steady, says Zespri.
Chairman Peter McBride attributed the improved result to better returns in Europe and reduced in-market losses of fruit, as well as the overall lowering of costs resulting from the recent competition in the post-harvest sector.
"The change in the forecast is mainly a result of improved returns in Europe," said Mr McBride.