Turners & Growers 1H profit slumps 39%, blames one-off events

Thu, 07 Aug 2014

By Paul McBeth Aug. 7 (BusinessDesk) - Turners & Growers, the fruit marketer controlled by Germany's BayWa, reported a 39 percent drop in first-half earnings, saying profitability had been hurt by a series of one-off events including a supply shortage. Profit fell to $10.2 million, or 8.72 cents per share, in the six months ended June 30, from $16.6 million, or 14.2 cents, a year earlier, the Auckland-based company said in a statement. Revenue fell 7.6 percent to $341 million. The company's international produce division suffered suppl...

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