28 Feb 2013

Turners and Growers reports full year loss of $15.3m

7:47 pm on 28 February 2013

The listed fruit and vegetable producer, Turners Growers, has reported a full year loss, due to further writedowns of its apple and kiwifruit orchards.

The company, which is 73% owned by Germany's BayWa lost $15.3 million in the year to December, an improvement of 23% compared with the previous year.

Revenue rose 4% to $669 million, boosted by its export arm, with better sales of its pipfruit and apples, which offset an oversupply of imported produce.

The company says trading in the new year is currently slightly ahead of budget.