Costa Group Holdings (ASX:CGC) results beat expectations

Company News

by Rachael Jones

Costa Group Holdings (ASX:CGC) the grower, packer and marketer of fruit and vegetables today report a full year statutory net profit of $60.8 million, from a loss of $36.1 million a year ago – an increase of 108.4 per cent.

The company managed to recover from drought challenges and saw favourable market conditions with positive demand and pricing, especially in the citrus, berry, and avocado categories.

Profit from ordinary activities rose 295.9 per cent to $67.4 million.

Shares in Costa Group Holdings (ASX:CGC) are trading 9.48 per cent higher at $4.39.