PGG Wrightson Has Announced $47.8 Million Operating Profit And $21 Million Net Profit For The First Half Of 2023

PGG Wrightson has announced $47.8 million operating profit and $21 million net profit for the first half of 2023. That net profit was down $1.3 million while revenue of $585.8 million was up $33 million. Meanwhile The owner of Mr Apple, New Zealand’s largest apple grower, is withdrawing its 2023 underlying net profit guidance after Cyclone Gabrielle ripped through some of its orchards before most produce had been picked. Scales Corporation said the cyclone had affected four of its 15 orchards. Three had extensive damage and one was moderately affected. The company estimated 3% of the crop had been picked before Cyclone Gabrielle and picking had started again with a “substantial proportion” of the crop still available, which would be harvested for export. About 63 per cent of NZ’s apples are grown in the cyclone-hit Hawke’s Bay.