Turners & Growers full-year profit falls 1.9% on processing, NZ trading losses

Wed, 25 Feb 2015

By Jonathan Underhill Feb. 26 (BusinessDesk) - Turners & Growers, the fruit marketer controlled by Germany's BayWa, posted a 1.9 percent drop in full-year profit as improved returns from its pipfruit business were offset by losses from processed foods and New Zealand produce trading. Profit fell to $16.6 million in calendar 2014, from $17.2 million a year earlier, the Auckland-based company said in a statement. Sales declined 0.7 percent to $727 million. Turners' stock has declined 5 percent in the past 12 months - supply shortages in...

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