Hortifrut reports strong results in H1

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Hortifrut reports strong results in H1

Chile's Hortifrut reported 28.6% EBITDA growth to US$23.6 million in the first half of 2013.

Photo: Hortifrut

Photo: Hortifrut

For the January-June period, sales also increased 18.6% to US$160 million. The company attributed the increased sales to higher volume, up 27.4% at 24,704 metric tons (MT). Revenue for a kilo of mixed berries also increased by 6.9%.

Additionally, the company cited the strong performance of its international subsidaries.

Fresh blueberries, raspberries, blackberries and strawberries represented 95% of sales, while value added products made up the remaining 5%.

Operating income rose 30.1% to US$20.7 million.

While general sales costs increased, the unitary price for a kilo dropped from US$5.54 to US$5.08. This is attributed to lower salary costs.

Over the six-month period, the company invested US$15 million in new plantations and infrastructure as part of a five-year plan.

During the reported period, Hortifrut and Vitalberry had yet to finalize their merger.



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