Higher blueberry volumes and prices help drive Camposol's sales 8.9 per cent higher in the first half
Peruvian agricultural giant Camposol has revealed that its EBITDA for the opening six months of the year came in at US$34.1m, a drop of 2.5 per cent on the same period of 2017.
Sales for the six-month period ended 30 June grew 8.9 per cent year-on-year to US$140.1m, mainly due to higher blueberry volumes and prices, although this was offset by lower volumes sold and prices of avocados.
Camposol stated that it would continue its diversification strategy in part by increasing production of its Fruit & Vegetable Division, consisting of blueberries, avocados and tangerines, including the acquisition of land and plantations in Uruguay to expand its tangerine business.
The company added that the long-term growth prospects for exotic fresh products was excellent, as avocado and blueberry consumption continues to rise, with plenty of headroom for increased per-capita consumption in key markets.
"During the first half of the year we executed investments for US$87.5m, which is 64 per cent higher than the investments executed during 2017," explained Jorge Ramirez Rubio, CEO of Camposol. "We have reached 2,000 hectares of blueberries and our expansion plan in Peru continues.
"We keep strengthening our control procedures in Uruguay and expanding our operations in Colombia, replicating in both places the sustainable model we have built in Perú," he added. "We will keep executing our business plan to continue strengthening Camposol as a world class company."