Calavo Growers Inc. has said that its net profit more than doubled to US$5.9m through the third fiscal quarter of 2010, up from a profit of US$2.5m in the same period last year.
Revenue rose 8 per cent to US$114.6m through the three-month period, the group said, up from the US$106.3m recorded in 2009.
Fresh produce sales, including avocados, tomatoes and papayas, jumped 43 per cent year-on-year, with processed product sales up 20 per cent, according to Reuters.
'We view this as a promising indication that market growth is not a one-time anomaly owing to crop size, but rather a permanent effect of industry promotion, demographic shifts and awareness of the health benefits,' said Calavo CEO Lee Cole. 'It bodes well for the avocado industry and Calavo in the longer term.'
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