Turners & Growers (T&G) has announced its results for the first half of the year, reporting on an upward trend in sales and net profit.
The New Zealand-based group, which is controlled by BayWa in Germany, saw net profit jump from NZ$7.1m last year to NZ$17.8m, a statement on the New Zealand Stock Exchange revealed.
Revenue from ordinary activities came in 9.4 per cent higher at NZ$369m, driven in particular by export sales of NZ$214m, a year-on-year increase of 15 per cent.
Domestically, the group said that it has traded at a similar level to 2012, with prices rebounding but volumes dropping slightly, while Bonita bananas have made a 'strong contribution' to its results in New Zealand.
In terms of exports, meanwhile, the 2013 apple season has had a 'strong start', the group noted, with higher volumes and favourable market pricing, while Enza's global apple programme has delivered increased returns – particularly from the North American market.
In its outlook statement, T&G said that it was 'on track to exceed the profitability of 2012' this year.
