Chilean berry multinational Hortifrut did not let obstacles such as the Lobesia botrana crisis and port strikes get in the way of an exceptional financial result for 2013-14, with a surge in sales and an even greater uptick in profits.

The company recorded a 27.1% sales rise to US$305 million, which was almost 20 percentage points higher than fruit volume growth, reflecting a large jump in prices per kilogram.

Hortifrut’s EBITDA rose by 48.3% to hit US$42.2 million, attributed to strong performances from its international subsidiaries, organic fields in Chile’s extreme south and the delivery of added-value products to third parties.

The business said the merger finalized with VitalBerry Marketing in August 2013 also contributed to the result through operations growth.

Sales of fresh blueberries, raspberries, blackberries and strawberries represented 94% of consolidated revenue, while the remainder came from the value-added product segment.

The company invested US$26.7 million in new plantations, infrastructure and breeding during the season, as part of its five-year investment plan.

09/15/2014

Fresh Fruit Portal