Costa results cream of the crop

Company News

by Rachael Jones

Fruit and vegetable company Costa Group (ASX:CGC) has reported its net profit after tax (NPAT) of $115.2 million, rising 99.5 per cent from $57.7 million last year. 

In more good news for the horticultural company, its revenue strengthened over the 2018 financial year, and lifted 10.2 per cent to $1 billion. 

EBITDA rose 30.9 per cent to $150.8 million on the prior corresponding period.

They also announced movement in their team. Tiffany Fuller has resigned as a Non-executive director of the company and Tim Goldsmith has been appointed as an independent non-executive director.

They are paying a full year dividend of 13.5 cents per share, representing 22.7 per cent growth on FY2017.

Shares in Costa Group (ASX:CGC) closed 1.39 per cent higher to $8.74 yesterday. 
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.