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Carl Collen


Thursday 24th August 2017, 09:31 Central Time

Fresh focus boosts Camposol's results

Peruvian group generates higher earnings and revenue in second quarter

Fresh focus boosts Camposol's results

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Camposol has unveiled a strong set of results for the second quarter on 2017, with growth in earnings and sales on a year-on-year basis.

The Peruvian group generated an EBITDA of US$26.1m, 253 per cent higher than the result it reported in the same quarter last year.

Sales stood at US$70.4m, up 44.9 per cent, an increase attributed to the higher volume and prices of avocados, and an increase in revenues from Marinasol (aquaculture division) due to higher volumes of shrimp.

In a statement, Camposol said that it expected to continue its diversification strategy by increasing production of the F&V Division - namely blueberries, avocados and tangerines, converting open pond into intensive pond in Marinasol, and reinforcing relations with clients adding value to through commercial strategies, marketing and service initiatives.

The potential for long-term growth in exotic fruits and vegetables is excellent, the group noted. Avocado and blueberry consumption is growing, with headroom for increased per capita consumption in key markets. The company said it expected good demand for all fresh produce in general in both the US and Europe.

"The company's strategic decision to focus on fresh and healthy products and to offer a recognised value proposition directly to the retailers, along with a proper execution throughout all our value chain, is what is making it possible to deliver these results," said CEO Jorge Ramirez Rubio. "We expect that with favourable market trends and a team highly focused on the strategy, we will continue strengthening Camposol as a world class company."

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