The Australian Costa Group reports a profit of 49.3 million Australian dollar over the financial year 2016. Profits increased by almost 30 per cent. For the first time, turnover exceeded the magical threshold of one billion dollar. It is the first year the group is listed and reveals its annual figures. The company is active in various product groups.
Despite three hailstorms earlier this year that slowed the production of the soft fruit, the group achieved good results. Demand for soft fruit continues to increase. A good result in citrus and mushrooms compensated for the lower prices of tomatoes and bananas. For soft fruit, raspberries did exceptionally well. “The contribution of raspberries to our result is exceptional this year, and follows six years of growth. The raspberry segment is now as big as our blueberry segment,” explains CEO Harry Debney.
The group exports approximately 60 per cent of its citrus production, with Japan as its most important market. Furthermore, they also export soft fruit to Europe and the US. These blueberries are mostly cultivated in Morocco via a joint venture with African Blue.