Interfresh EPS up 560 percent

Horticultural company, Interfresh had excellent results in the nine months to September with sales going up 238 percent to $3.9 billion, more than the total sales for last year which stood at $3.6 billion.

Its headline earnings were up 560 percent with net profit at $485.3 million, more than double the $197.3 million realised last year.

It also managed to reduce its gearing from 25 percent to 17 percent.

The volume of flowers exported by Mazoe Flowers increased by 143 percent while prices in Euro were 9.3 percent up.

Interspan exported more than 1 million cartons of citrus and fruits, 60 percent more than last season. The division is now looking at options to source out of season fruit from within the region as the availability of citrus locally is now highly questionable because of disruptions in its main producing areas.

The company says although 88 percent of the land at Mazoe Citrus Estates has been listed, it has continued to operate without any disruptions.

Citrus exports of limes, lemons and oranges were up 140 percent in carton volumes. Citrus juice and oil production went up by 18 percent. All the citrus oil produced was exported while only 10 percent of the juice was exported.

Interfoods Manufacturing is also doing well although exports of canned fruits and vegetables are still small.

Sales for Wholesale Fruiterers went up by 156 percent.

In August, the company acquired Transfruit, a 100 percent export company focussing on airfreight of fruit and exotics to Europe, Indian Ocean Islands and the Far East.

Intercrop, which supplies inputs to outgrowers, is now accommodating new farmers while Interfreight was sold to Katope in October.

(46 VIEWS)