Chile: Hortifrut notches 22% sales rise -

Chile: Hortifrut notches 22% sales rise

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Chile: Hortifrut notches 22% sales rise

Chilean fruit company Hortifrut has recorded a 22% year-on-year rise in sales to US$180 million for 2011, while the company more than doubled its profits.

The business sold 28,000 metric tons (MT) of berries during the year with around two thirds traded in the U.S. through Naturipe Farms, while the remainder were sold in Asia, Europe, Brazil and Chile.

Profits rose 158.4% year-on-year to US$13.1 million, driven by growth in almost all categories were Hortifrut participates, including conventional and organic blueberries, strawberries, blackberries, raspberries and value added products.

The company said the value added category grew by 350% over the period while organic blueberry sales jumped 77%.

Hortifrut recently announced it would conduct a US$75 million capital raising on the stock market as part of its expansion plans.

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