T&G Global profit dented by cheaper tomatoes, small grape harvest

Tue, 18 Dec 2018

By Paul McBeth Dec. 19 (BusinessDesk) - T&G Global says its annual profit will more than halve this year after cheaper tomatoes and a weather-affected grape harvest in Peru dented earnings. Net profit will be $8-10 million this calendar year, down from $22.6 million in 2017, it said in a statement. Lower tomato prices affected T&G's covered crops unit while its Peru grapes division dealt with a smaller harvest, it said. The company acknowledged unusually low prices for its covered crops business at the half-year update. "While the...

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