T&G Global has reported its 2023 Interim Results, with total revenue for the Group increasing 19% to $765.3 million, compared to $645.5 million in the prior year.
A loss in operating profit was recorded of $11.6 million, down from a profit of $15.0 million, and a before-tax loss of $21.4 million, compared to a profit of $7.8 million in 2022.
The Apples business saw revenue increase 27% to $508 million, while T&G Fresh recorded a 12% increase in revenue to $208 million.
The results reflect the difficult conditions the Group has faced in the first half of the year due to Cyclone Gabrielle, inflationary pressures, and reduced consumer demand in some global markets.
To provide additional funding flexibility, T&G has entered into a loan facility with parent company BayWa AG.
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