[27 February/The Country]

T&G Global lifted full year revenue 11.2 percent to $1.2 billion, but weather and Chinese tariff-related challenges saw its net profit plunge 63 percent to $8.3 million. The international produce division experienced adverse weather impacts on cherry season in Australia and the quality of its grape harvest in Peru. However, operating profit lifted to $3.1 million due to favourable conditions particularly in the Pacific Islands. In New Zealand operating profit dropped $8.2 million from 2017 to 2018 due to poor growing conditions for tomatoes and an over-supply in the domestic market. T&G has also sold ENZAFoods, its Kerikeri-based kiwifruit orchards, post-harvest facilities and business assets as it has turned its focus to growing its core businesses which has contributed to total assets reducing by $50.5 million.