Peruvian agribusiness giant Camposol has reported a 17.1 per cent hike in its second-quarter sales to some US$46.8m compared with the same period last year.
According to a press release from the company, the improved performance was mainly due to an increase in sales volume of fresh avocados and preserved peppers; as well as higher prices for shrimp.
Total volume sold totalled 18,849 tonnes, up 22.6 per cent on the year-earlier period, driven mainly by an increase in fresh avocado volume.
Average prices were US$2.48 per kilogramme, down 4.6 per cent compared with the same period in 2012.
During the second quarter of 2013, Camposol’s earnings before interest, taxation, depreciation and amortisation (EBITDA) were US$6.1m, marking a 74.4 per cent growth on the second quarter of 2012.
Camposol said the upturn was down to higher volume, mainly in avocados, following favourable weather conditions this year and the rise in productivity of the young fields.
As of 30 June 2013, the company maintained a cash balance of US$23.4m.
Looking ahead, Camposol explained that the long-term growth prospects for exotic fruits and vegetables markets are “excellent”.
“Avocado and mango are growing, with headroom for increased per capita consumption in key markets. In the case of asparagus, although consumption is stable, supply is falling due mainly to reduced exports from China,” the company noted.
As such, Camposol said it expects good demand for all fresh produce in general, and especially for avocados in both the US and Europe.
The group added that it is currently focused on adding value to its clients through commercial, marketing and service initiatives that should result on higher margins.
On 12 June, the company signed an Engagement Letter with Credit Suisse, in order to explore strategic alternatives to improve distribution and marketing operations in the US market.
