19 Sep 2011

Satara back in the black

12:26 pm on 19 September 2011

Satara's books are back in the black, after it restructured its contracts, brought on more growers and handled more fruit.

The kiwifruit and avocado co-operative made $1.1 million in the six months to the end of June, compared with a loss of $279,000 in the same period a year earlier, when it was hit by a write-down.

Revenue rose 9% to $33.8 million.

Satara says market share has remained steady, despite an extremely competitive environment and the restructurings had helped to boost the business.

A total 9.6 million million trays of fruit were handled in the period, compared with 8.5 million the year before.

The company says the financial effects of the PSA vine disease will be limited in 2011, but the future is uncertain.

Shares in Satara are listed on the stock exchange's alternative market. They last traded at 55 cents.