Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Record Profits For Soon To Be NZAX-Listed Satara

News Release
For immediate release

Record Profits For Soon To Be NZAX-Listed Satara

A record distribution to shareholders of $2.6 million on the back of a record profit of $3.7 million profit positions Kiwifruit cooperative Satara well for an AX listing expected later this year.

Chairman Andrew Fenton says the results show strong solid growth and are in line with Satara’s strategy for growth.

“Grower shareholders have received a 30 cent per export tray rebate in cash which completes our most profitable year in the history of the company, Fenton says.”

The results were presented to shareholders at Satara’s AGM in Mount Maunganui.

Mr Fenton made special mention at the AGM of former CEO Craig Wallis and his valued contribution to Satara over the past eight years where the company has grown from 3.5 million trays throughput to over 11 million trays expected in 2004.

Mr Fenton says with over $25 million in net assets, Satara is growing and well positioned to take advantage of the changes ahead for the kiwifruit industry.

He says with expansion work completed over the last few years Satara is perfectly placed to deal with the challenges of handling the largest kiwifruit crop for many years, which they are now in the process of packing.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news