Innovative Research Profit For HortResearch

11 October, 2000

Innovative Research Results In Profit For HortResearch

With revenue up by nearly $2 million, HortResearch has recorded another successful trading year. The HortResearch 2000 Annual Report shows that the past financial year has helped the company to consolidate its national and international reputation for successful and innovative horticultural science.

The company continues to have a strong capital investment programme with major building extensions completed at the Te Puke Research Centre and a totally new facility at Hawke's Bay due for completion during the present financial year.

With a tax-paid profit of $1.9 million, HortResearch's CEO Ian Warrington is confident that HortResearch will continue to enhance New Zealand's leading role in areas of innovation and technology development.

Dr Warrington said that "returns from previous investments can now be seen in the form of industry expansion, export growth, increased employment and regional development as the release of new innovative products, achievement of premium quality, and adoption of competitive production methods occurs.

"Research being conducted now will position New Zealand to sustain this growth through the further development of new products, new convenience foods and expansion of our knowledge about the health- enhancing qualities of fruits and vegetables."

HortResearch continues to invest in the knowledge economy and a prime example is the development of gene technologies with a major new commitment to genomics - particularly the study of the genetic make-up of plant species. HortResearch scientists are building valuable databases of genes from varieties of apple, kiwifruit and berryfruit and are exploring the functions of these genes in their control of plant growth and development.

The past year also marked successes for HortResearch's science, particularly with the release of a range of new fruit cultivars. Demand for HortResearch's research and development services has been enhanced by offshore production of HortResearch cultivars, particularly with kiwifruit and apples into countries such as the USA, Italy, France and Chile. A wide range of research initiatives and services are also being carried out in Germany, Japan, Australia, Canada, the United Kingdom, Vietnam, Sri Lanka, India and a number of South Pacific nations.

A high profile success closer to home, was the launch of the new AroMac beer brewed from a recently released hop cultivar 'Nelson Sauvin'. The result of a 15-year breeding programme, this hop produces a unique flavour and aroma that has caught the attention of beer connoisseurs around New Zealand.

For further information contact: Liz Brook, Communications Manager, HortResearch, Tel: 06 351 7000 Ext 7749 Fax: 06 351 7038 Mobile: 025 505 912 A/h: 06 328 9836 Email: lbrook@hort.cri.nz

Liz Brook Communications Manager HortResearch Corporate Office Private Bag 11 030 Palmerston North New Zealand

Tel: +64 (6) 351 7000 Ext 7749 Fax: +64 (6) 351 7038 Mobile: 025 505 912

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