Costa Group Holdings Ltd Solid growth in Produce Segment
Solid growth in Produce Segment: For FY17, Costa Group Holdings Ltd (ASX: CGC) reported 10.7% (year on year) revenue growth at $909.1m, while posting 29.4% growth in EBITDA at $115.2m (before SGARA and material items). NPAT before SGARA and material items increased by 37.3% to $60.7m while statutory NPAT increased to $57.7m, compared to $25.3m in FY2016. The produce segment delivered a solid result by growing at 9.4% to $786.2 million while reporting total transacted sales more than $1 billion. CF&L revenue growth was up 2.4% on FY2016 with the segment comprising both the wholesale market and logistics operations. Importantly, the Coles Jandakot Western Australia Distribution Centre contract was renewed through to September 2023. The international segment saw a 47.2% increase on transacted sales compared to FY2016 and now encompasses operations in Morocco (African Blue), China and royalty income from the licensing of blueberry genetics used across the Americas and Africa is becoming an important part of business and growth plans.
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