Keytone has received a materially increased sales forecast from Nouriz (Shanghai) Fine Food Co., Ltd (“Nouriz China”) for the manufacture of Nouriz China’s private label whole and skim milk powder into China for calendar year 2021.
The details are as follows:
- NZD3.1m sales forecast received for the calendar year 2021, production to commence in the first quarter of 20211
- Keytone has recorded NZD2.5m of sales to Nouriz China over the 12 months to October 2020
- The forecast sales for calendar year 2021 represent an approximate 24% uplift of the 12 months sales to October 2020
The product will be manufactured at Keytone’s New Zealand facilities.
Keytone’s CEO Danny Rotman commented, “The forecast received from Nouriz China represents another material increase in milk powder sales to China from our facilities in New Zealand. This is the first forecast provided by Nouriz China and comes shortly after the significant NZD7.2m forecast provided by Walmart China for the same period of calendar year 2021 and the recent NZD7.1m Foodstuffs contract win. The New Zealand business continues to record strong growth and the Company expects further upside against historical performance as we move into 2021 and beyond.”
The release of this announcement was authorised by the Non-Executive Chairman, Mr. Peter James, on behalf of the board.