T&G Global, the 125-year-old New Zealand-based fresh produce company, has reported an after-tax loss of $0.9 million for the year ending 31 December 2022, compared to the prior year’s $13.6 million profit.
This was largely due to the impacts of the third season of COVID-19 harvest and supply chain disruptions, rising labour and input costs, and the impact of quality issues in some of the New Zealand Envy™ crop.
Revenue for the year was $1.30 billion, $70 million down on the previous year.
Despite this difficult year, the Company’s total equity grew 1% to $580.2 million from the prior year’s $573.6 million.
T&G Global is confident that its response to the Envy™ quality issue protected the value of the brand and customer and consumer confidence in it, and is focused on building the strong foundations needed to accelerate the growth strategy.
See more
