Lower yields hit Camposol's Q2 result

For fresh fruit and vegetable marketing and distribution in Asia
Carl Collen

BY CARL COLLEN

Lower yields hit Camposol's Q2 result

Sales and earnings drop on previous year due to deferred avocado results and lower volumes

Lower yields hit Camposol's Q2 result

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Camposol has announced that it sold 21,020 tonnes of product during the second quarter of 2015, down 33.9 per cent from the second quarter (Q2) of 2014, the result of deferred results of avocados (retail to Q3), lower yields of asparagus and shrimp and lower shrimp prices.

The average price was US$2.75 per net KG, up 20.1 per cent from Q2 2014, mainly explained by an increase in prices of fresh avocados and preserved asparagus.

As a result, Camposol reported sales of US$57.7m in the second quarter of 2015, down 20.7 per cent from the same period last year. EBITDA was US$7.1m, 56.1 per cent lower than Q2 2014 – attributed to lower results in peppers, fresh avocados and shrimp.

The company said that it expected to continue its diversification strategy by increasing the production in the fruit and vegetable segment (blueberries) and Seafood Segment (conversion of shrimp ponds), as well as continuing to reinforce its Trading Segment (direct sales to retailers).

"During the second half of this year we will have an important increase of our blueberries segment, which are mostly sold directly to retailers," said Camposol executive chairman Samuel Dyer. "Within the next 2 years, we will see an important growth in volumes (blueberries, shrimp and avocados), without additional substantial CapEx."

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