Chile: Hortifrut reports strong results in third quarter
Chile's Hortifrut reported a 31.8% rise in the company's EBITDA for the January-September timespan, coming in at US$20.3 million.
The report also showed a notable rise in sales, at 19.7% or US$171 million.
The strong sales performance was attributed to a 28.4% increase in volume, reaching 26,585 tons (MT). The volume increase counteracted a 6.8% drop in average per kilo revenue of mixed berries.
Operating income for the period rose 36.3% to US$15.9 million.
The company also reported strong performance by its international subsidiaries.
Sales of blueberries, raspberries, blackberries and strawberries represented 93% of revenue. Additional revenue came from value-added products.
Net income attributable to investors rose 35.8% to 7.1 million.
The company noted investments of US$21 million during the period in new plantations and infrastructure as part of a five-year plan.
Cherry sales had still not been calculated at the time of reporting.
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