New Zealand's T&G Global  post half-year loss on impairment charge, revenue rises

T&G Global

06/08/2026 22:10

Overview
New Zealand fresh produce firm's half-year revenue rose 2.6% yr/yr to NZ$572.3 mln
Company reported net loss of NZ$30.5 mln after NZ$34.4 mln impairment on T&G Fresh sale
Proceeds from T&G Fresh divestment to be used to reduce debt and focus on Apples, VentureFruit

Outlook
Company expects reduced revenue from T&G Fresh divestment but plans to use proceeds to reduce debt
T&G Global to focus resources on expanding Apples and VentureFruit businesses globally
Company confident of maintaining performance momentum in the second half

Result Drivers
APPLE SALES GROWTH - Higher sales volumes, especially of ENVY apples in Asian markets, and a larger New Zealand crop drove revenue and profit increases in the Apples business
VENTUREFRUIT REVENUE - VentureFruit increased revenue and narrowed its operating loss, supported by new berry plant orders in the United States
AUSTRALIAN BLUEBERRY IMPACT - Heavy rainfall in Queensland negatively affected the retained Australian blueberry operations

Company press release: ID:nNZS9tja

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
NZ$572.3 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)