INDUSTRIAL NEWS AND ANNOUNCEMENTS

Preliminary results from the 2018 Gold3 licence release indicate New Zealand kiwifruit company Zespri’s corporate revenue from the tender process will be in the range of NZ$190-195 million (US$139-143 million), not including GST.

In 2017, 400 hectares of Gold3 licence were released and awarded under a Closed Tender Bid mechanism, generating corporate revenues of NZ$98.2 million (US$72 million) exculsive of GST.

However, this year estimates are up due to the release of 700 hectares of Gold3 licences, as well as a further 50 hectares of licenses for organic Gold3. 

For the Gold3 tender processes in both 2017 and 2018, Zespri has not provided deferred payment terms, meaning the full invoice amount should be received by the end of July.

Zespri said it they would update shareholders on the implications for corporate profit when the forecast range is announced following Board approval of the budget.

The validation process of all bids is currently ongoing, with all bidders to be notified from the 1st May on the outcome of their bids, after the Licence Evaluation Panel have confirmed all allocations.

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