The New Zealand kiwifruit industry’s third-largest post-harvest operator has reported a pre-tax profit of NZ$3.7m for 2010 against NZ$4.9m for the corresponding period last year, reports the Bay of Plenty Times.
The final reported profits will also be negatively impacted by NZ$1.3m from changes to New Zealand tax legislation announced in the most recent budget.
Satara managing director Tom Wilson attributed the drop in revenue to lower crop yields and a reduction in the number of growers using the company.
He is positive about the company’s prospects for the coming season, however.
“We have easily gained NZ$1.4m of annualised cost savings. A significant number of new growers have joined Satara for the next year’s packing season,” he said.
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