Dutch fresh produce group The Greenery managed to record a 120% rise in net income in 2016 despite a fall in sales, with the help of lower financing costs.

In an announcement today, the company said net income hit €9 million for the year, while sales were down 6.9% at €1.03 billion.

Weather conditions in the Netherlands and other countries meant total volume was down 12.5%, but an average price rise of 6.5% across the company's products was able to offset some of the decline. 

The group said EBITDA fell by €6 million down to €18 million, but its balance sheet was strengthened by the sale of real estate. 

Almost all members in the company opted to continue their membership for 2017.

The Greenery expects sales to grow this year, especially with retail customers, while a larger part of the volume is set to be sold through contracted purchasing.

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