Peru: Camposol profit surges more than 2.5 times in Q2 - FreshFruitPortal.com

Peru: Camposol profit surges more than 2.5 times in Q2

Peru: Camposol profit surges more than 2.5 times in Q2

Higher volumes and lower costs for avocados helped raise profits substantially for Peruvian agri-exporter Camposol in the second quarter, with EBITDA up 165.5% year-on-year at US$16.3 million. camposol avocadoe

On a pre-tax basis, the multinational's profit was 12 times greater than for the same period in 2013.

Avocados made up more than half of Camposol's sales at US$41 million, recording a revenue increase of 150% which outpaced the company average by almost 100 percentage points.

A larger revenue rise was seen for grapes however at 491%, but this crop was far less relevant with a dollar figure around 50 times lower than for avocados.

Artichoke sales were buoyant as well, rising 75% to US$3.3 million, while the company's founding crop of asparagus recorded a slight uptick of 5.6% to hit US$11.6 driven by better prices.

Mangoes fared well too with a 13% increase in revenues to US$4.2 million, but sales of peppers were down 20% at US$3.5 million.

In the profitability stakes, the company was able to cut the average cost of goods sold by 29.5%.

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