Monday, August 1, 2016
Western Bay of Plenty Kiwifruit Management company, DMS, has announced a record profit for the 2015/16 financial year, 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 (Tuesday 26 July), show a record net profit before tax and distributions of $6.95 million, up from $3.13 million the previous year. The growers rebate increased to 30 cents, up from 20 cents previously.
The 2016/17 season also saw the company process a record volume of fruit – 10.7 million Class 1 trays, up from 4.8 million in 2013 – a market share increase from 5.6% to 7.2%.
DMS director Craig Greenlees says the 2016 results are based on the company’s resolute 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 variety as the future for the industry in the post-PSA environment. That strong belief has paid off for our growers, ourselves and the wider industry, and we are proud of the contribution we have made to the kiwifruit recovery in recent times.
“Our results are driven not only by the increased volume coming onstream across the industry, but by careful business cost control and an unwavering dedication to maintaining quality standards.
“Our quality focus isn’t just in the packhouse, it’s across the whole value chain, from the vine to the plate. As Orchard Champions, we make sure the management of our orchards is of the same quality standard as our packing and coolstore processes, and as a result we are able to provide our growers with exceptional returns.
“We expect the 2016/17 financial results will improve further with the extra volumes this season. This growth will be supported by further investment in infrastructure and staff development.”
DMS has invested heavily in infrastructure since 2014, with a $9 million coolstore development in Te Puke coming onstream for the 2016/17 season, and a further $12.5 million investment planned for its Te Puna site ready for the 2017 season.
“The Te Puna development, which includes four new coolstores and supporting site expansions, is the biggest ever for DMS, reflecting the growth of the business and ensuring we are able to maintain our high-quality standards with increased fruit volumes,” says Mr Greenlees.
“We have also made considerable investment in the upskilling of our people and processes, all of which are about strengthening DMS for the future and living up to our brand promise of ‘Increasing Grower Profit’.”Back