Leading Peruvian agro-industrial group Camposol has seen a drop in earnings before interest, taxation, depreciation and amortisation (EBITDA) of 79.7 per cent in the opening quarter of 2015.
The lower earnings was a result of lower volumes of white asparagus compared with the same period of 2014, the group noted, as well as the increasing cost of white asparagus, shrimp and peppers due to lower yields.
Sales actually climbed 18.6 per cent to US$71.7m, driven mainly by peppers and seafood products such as shrimp.
'The Company expects to continue its diversification strategy by increasing the production in the F&V Segment (blueberries) and Seafood Segment (shrimp farming), as well as continue to reinforce our Trading Segment (direct sales to retailers), adding value to its clients through commercial, marketing and service initiatives which should result in higher margins,' stated Samuel Dyer Coriat, executive chairman of Camposol. 'Within the next two years, we will see an important growth in our volumes (blueberries, shrimp and avocados), without additional substantial CapEx.'
Camposol said that the long-term growth prospects for the exotic fruits and vegetables markets were excellent.
'Avocados and blueberries consumption is growing, with headroom for increased per capita consumption in key markets,' the group noted. 'In the case of asparagus, although consumption is stable, supply is falling due mainly to reduced exports from China. The Company expects good demand for all fresh produce in general and for avocados specifically in both the United States and Europe.'
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