T&G Global first-half profit halves as inclement weather delays NZ pipfruit harvest

Thu, 03 Aug 2017

By Paul McBeth Aug. 3 (BusinessDesk) - T&G Global, the fruit marketing firm controlled by Germany's BayWa, reporting a 49 percent slump in first-half profit as poor weather weighed on the timing of the domestic pipfruit harvest, reducing fruit volumes and margins. Net profit attributable to equity holders fell to $11.3 million, or 9.1 cents per share, in the six months ended June 30, from $22 million, or 18.2 cents, a year earlier, the Auckland-based company said in a statement. A 19 percent gain in revenue to $501.6 million was offset b...

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