Turners and Growers narrows 1H loss, writes down orchard values

Thu, 28 Feb 2013

Feb. 28 (BusinessDesk) - Turners & Growers, the fruit marketer controlled by Germany's BayWa Aktiengellschaft, narrowed its first-half loss after taking another writedown on the value of its kiwifruit orchards from the outbreak of Psa vine bacteria and taking a more downbeat view on its apple orchards. The Auckland-based company made a loss of $15.3 million, or 13.1 cents per share, in the six months ended Dec. 31, from a loss of $18.9 million, or 17.2 cents, a year earlier, it said in a statement. That included a $29 million impairment char...

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