Science & Innovation Sector

The Horticulture and Food Research Institute of New Zealand Ltd (HortResearch)

HortResearch aims to develop advanced technology clusters around core sectors in the fruit and food industries to enable a shift from commodity to premium-earning products, and from traditional to sustainable production. The company’s vision is to create new markets around human health and performance and biomanufacturing systems.

Website: www.hortresearch.co.nz (opens in new window)

2008/11 Statement of Corporate Intent (.pdf 86kb)

Key Company Data

Company Form	Crown research institute
Year of Establishment	1992
Head Office	Auckland
Major Campuses	Auckland, Hamilton, Havelock North, Te Puke, Palmerston North, Lincoln, Marlborough, Nelson
Chair (term expiry)	Jim McLean (June 2009)
Deputy Chair	Jim Scotland (June 2009)
Board Membership	Mark Benjamin (June 2009)
	Prof Anna Koltunow (June 2011)
	Dr Kevin Marshall (June 2011)
CEO	Dr Bruce Campbell (Acting)
Balance Date	30 June
Number of FTE Staff	491

 

 

Key Financial Data ($ million)	2002/03	2003/04	2004/05	2005/06	2006/07
Financial Performance
Total Revenue	54.1	58.5	59.4	62.0	65.2
FRST + NSOF / Capability Fund	31.6	29.9	29.5	28.3	28.9
EBIT	3.1	2.1	(0.8)	0.6	1.9
Net Profit After Tax	2.6	1.9	(0.7)	0.3	1.0
EBIT Margin	5.9%	3.6%	(1.3%)	1.0%	2.8%
Return on Assets	5.4%	3.5%	(1.3%)	1.0%	2.9%
Return on Equity	5.4%	3.8%	(1.4%)	0.6%	1.9%
Financial Position
Total Assets	58.5	62.7	62.3	61.7	64.6
Equity	50.0	52.0	51.4	51.7	52.6
Equity Ratio	85.5%	83.0%	82.7%	83.1%	82.5%
Current Ratio	1.8	2.8	1.6	1.8	1.8

Financial data and staff member information correct as at 30 June 2007. All other information correct as at 1 July 2008.

CCMAU commentary on 2006/07 performance

Total revenue for 2006/07 increased to $65.2 million compared with $62 million in 2005/06.  Year-end net profit after tax was $985,000, a further improvement on the previous year’s $294,000 result.

During 2006/07, HortResearch completed external peer reviews for each of its science programmes, which have given the company a valuable measure of its science quality and direction.  Workshops throughout the year brought scientists and representatives from New Zealand’s horticulture industry together to tackle issues such as carbon costs and climate change.

HortResearch also joined the New Zealand and Australian wine industries in a three-year research project to develop a botrytis decision support system for grape growers.

HortResearch measures its own success by its collaborative science excellence and development of strong industry relationships leading to it being a profitable commercial entity.