It has been a 'successful and productive year' for New Zealand-headquartered fruit group T&G Global, with significantly higher year-on-year profits.

The company, formerly known as Turners & Growers, is also planning to open an office in the Thai capital of Bangkok, following on from the opening of an office in China last year.

In a release, the organization said revenues across the 2015-16 season rose 12% to exceed NZD$800 million (US$570 million) for the first time, while net profits rose 83% year-on-year to NZD$19.5 million (US$14 million).

The combination of good returns from the pome fruit division and substantial improvements in all other business units contributed to the result, T&G Global deputy chair Sir John Anderson said.

"The focus on consolidation, simplification and further investment is delivering tangible results; while that investment is building capacity for future growth," he said.

The company also completed the acquisition of two glasshouse operations during the last year, Rianto and Great Lake Tomatoes, as part of its  T&G Covered Crops division.

T&G is now the largest grower by volume and value in New Zealand across several categories, according to chief executive Alastair Hubert.

"We are the single largest glasshouse grower in the country with 29 hectares of owned production and we produce, on average, 13 million kilograms of tomatoes per annum, representing a third of New Zealand’s supply," he said.

Outside New Zealand, T&G continued to develop its new grape operation in northern Peru, with the first shipments expected to export in November this year.

The company also added a new category, asparagus, during 2015, joining pome fruit, covered crops, citrus, and grapes.

Global expansion

Hubert said the company's investment growth was backed by global expansion as T&G widened its trading network around the world.

"Building on our China office opening in 2015 we will shortly open a new Southeast Asia office in Bangkok to service that region," he said.

"This expansion builds on our new Joint Venture with Zespri and will be a gateway into the region not only for sales of kiwifruit but other categories as well, notably our popular Jazz™ and Envy™ apples.”

In May, T&G opened a new office in the U.S. state of Washington for its subsidiary EnzaFruit Products Inc (EPI), while also enlisting a new sales agent.

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