Peru: Camposol earnings more than triple in Q4
Higher volumes of blueberries, tangerines, mangoes and seafood have led to phenomenal growth in Camposol's earnings, with EBITDA rising 209.4% year-on-year to US$19.2 million in the fourth quarter.
In a release today, the company said higher prices for blueberries and avocados also contributed to the spike in profits, while sales were up 18.4% at US$86.4 million.
"The average price during the fourth quarter of 2015 was USD 3.44 per net KG, up 8.6% from Q414 mainly explained by increasing volumes of blueberries, higher volumes and prices of peppers as well as higher prices of avocados," Camposol said.
"Camposol Holding Ltd. sold 25,115 net MT during the fourth quarter of 2015, up 9.1% from Q414 mainly explained by an increase in volumes of blueberries, tangerines, mangos, shrimp and other seafood products."
EBITDA was up for the full year too, growing at a rate of 24.1% to hit US$42.8 million.
Lower volumes of avocados, asparagus and grapes actually meant the total volume of sales was down for the year by 3.8%, reaching 99,729MT.