Highlights for me include.
"Performance in FY2018 once again reinforces the value and resilience of our diversified portfolio
and business model. The citrus category had a standout performance, boosted by excellent crop
quality and strong export demand, while mushrooms and tomatoes also performed well, with results
exceeding targets. This performance countered a materially lower than expected contribution from
African Blue due to prolonged cold weather, causing up to an eight week delay in maturity of the
Moroccan crop”, said Mr Debney.
During the year Costa made significant progress on its growth projects, including berry expansion
plantings across Australia, China and Morocco, continued construction of additional capacity at the
Monarto, South Australia mushroom farm and expansion of Costa’s newest vertically integrated core
produce category, avocados"
This is what I love about the company, they're so proactive. And have so much experience, they're not waiting for something to go wrong they're diversifying so it won't. There's also plenty of room for growth, with the following:
"With 75% of our citrus product being exported to countries including Japan, United States and China,
the reduction of Korean citrus trade tariffs has opened up this exciting new export market,
highlighted by the fact that consumer preferences are similar to those of Japan, but with greater per
capita demand."
This highlights the possibility for increased output of produce internationally, with South Korea being a prime target.
Lastly the development of new products such as the Arana yellow blueberry will provide Costa with some new products to explore.
And the financials listed are:
- Revenue of $1,002m, and Transacted Sales of $1,336m – 10.2% and 13.3% growth on
FY2017 respectively.
- Statutory NPAT of $115.2m, inclusive of items relating to the African Blue acquisition,
including $48.3m gain from the consolidation of the 49% interest previously held.
- EBITDA before SGARA and material items $150.8m – up 30.9% on FY2017.
- NPAT before SGARA and material items of $76.7m –26.3% growth on FY2017.
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Highlights for me include. "Performance in FY2018 once again...
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