Strong demand for apples puts T&G Global back in profit
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The Envy apple variety had a strong growing season and was one of the factors behind T&G Global being back in profit for the six months to the end of June.
By RNZ
Leading fresh produce grower and exporter T&G Global has returned to profit on the back of strong demand for apples and moves to trim costs and improve efficiency.
Net profit for the six months to the end of June was $1.7 million, a turnaround from the $18.6m loss it posted in the same period a year ago.
Revenue for the latest half-year came in at $920.6m versus $820.1m, and operating earnings were $18.1m as opposed to a loss of $2.6m.
The German-owned company said it was getting results from its growth strategy focusing on key products such as apples and a move to expand its overseas markets, as well as reduce costs.
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