T&G Global sees financial boost from premium apples

T&G Global has reported a significant improvement in its financial performance, driven by strong demand for its premium ENVY and JAZZ branded apples.

For the year ending Dec 31, 2024, the company achieved a 2% increase in revenue to $1.36 billion and a turnaround from an operating loss of $45.6 million to an operating profit of $12.7m.

T&G Global's net loss before tax also narrowed to $6.8m, compared to $64.2m in the previous year.

However, the company still reported a net loss after tax of $9.9m, down from $46.6m.

The apple business accounted for 63% of T&G's total revenue.

T&G Global's fresh produce division, T&G Fresh, faced challenges due to low consumer demand, resulting in a 6% decline in revenue.