The apple season will still be a bumper despite T&G Global's lower first-half-year profit forecast, says New Zealand Apples and Pears chief executive Alan Pollard and reported by FreshPlaza.
In a NZX announcement T&G Global reported a 49 per cent decrease in first-half-year profit, with poor weather contributing to harvest timing, quality, volume and margin.
"Inclement weather also affected third-party growing partners in New Zealand and internationally, leading to an overall decrease in the volume of fruit available," T&G Global said.
Profitability was also affected by the northern hemisphere where fruit was available for a longer period, delaying the switch to southern produce.
"These issues led to operating profit for the pipfruit division decreasing by $8 million from the same period last year."
Mr Pollard said that, for the whole season, it looked like it would be a similar result to last year nationwide.
"Last year was a record year, so if we do the same we equal our record - you can't complain about that," he said.
| A Fresh Plaza release | August 25, 2017 |||