Costa (ASX:CGC) Revenue Rises 30% on International Growth

kalkinemedia2022-02-22

The shares of fresh fruit & vegetable giant, Costa Group Holdings Limited (ASX:CGC), are rising today. Investors are keeping the stock on their radar after the company reported solid revenue growth in...

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evauoz
2022-02-22
evauoz
Buy?
CharlesKing
2022-02-22
CharlesKing
like

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Investors are keeping the stock on their radar after the company reported solid revenue growth in...</p>\n\n<a href=\"https://kalkinemedia.com/au/stocks/consumer/costa-asxcgc-revenue-rises-30-on-international-growth\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CGC.AU","symbol_name":"Costa Group Holdings Ltd","start_time":0,"source_url":"https://kalkinemedia.com/au/stocks/consumer/costa-asxcgc-revenue-rises-30-on-international-growth","article_id":"1199606066","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1199606066","pubTimestamp":1645508993,"sourceInfo":{"source_id":"lsy1642396333099","name":"kalkinemedia"},"weMediaInfo":null,"summary":"The shares of fresh fruit & vegetable giant, Costa Group Holdings Limited (ASX:CGC), are rising toda","collect":0,"end_time":0,"defaultTopTitle":"kalkinemedia.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CGC.AU":"Costa Group Holdings Ltd"},"translate_title":"歌诗达（ASX：CGC）国际收入增长30%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CGC.AU":0.9},"content_text":"The shares of fresh fruit & vegetable giant, Costa Group Holdings Limited (ASX:CGC), are rising today. Investors are keeping the stock on their radar after the company reported solid revenue growth in its CY21 results.The scrip traded 7.333% higher at AU$3.220 per share at 10:42 AM AEDT today.Costa achieved record results from the international segment with 30% revenue growth. This further supports Costa's investment strategy to expand its business utilising its world-leading blueberry genetics.CGC CY21 result highlights –Costa's earnings before interests, taxes, depreciation and amortisation (EBITDA) jumped by 10.6% to AU$218.2 million.Revenue stood at AU$1,220.6 million, while international revenue grew 30% on CY202, on record result from the international segment.The net profit after tax (NPAT) grew 16.2% on CY20 to AU$64 million, while the statutory NPAT stood at AU$41.4 million.Operating cash flowstood at AU$114.6 million while the 2H working capital inflow stood at AU$19.5 million, consistent with GCC's normal cycle.The company maintained a robustbalance sheetwith net assets increased at AU$828.0 million.Moreover, the company witnessed a transformative Citrus year with successful 2PH integration. Costa's CEO, Sean Hallahan, said that the acquisition of quality citrus assets over the year, including 2PH farms, was transformative.The successful integration of these assets and opening of further export market opportunities highlighted the growth, he said.Despite achieving a slightly lower performance in its avocado category, the company witnessed a solid second half momentum across its domestic produce portfolio.On the other hand, sales and earnings in the berry category witnessed a significant improvement over the prior year. Also, mushroom and tomato volumes were based on solid demand and pricing over the second half.Outlook for CY22The company achieved above expectations during the early Chinese berry season based on yields and demand.While the foodservice markets have become more robust, CGC expects slightly lower industry avocado production.As it's \"citrus off\" year in the southern production region, the company expects a rebound from Colignan farm.CGC DividendThe company declared a fully franked dividend of 5.0 cents per share today.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9097573592,"gmtCreate":1645513398857,"gmtModify":1676534035004,"author":{"id":"4087513826666000","authorId":"4087513826666000","name":"evauoz","avatar":"https://static.tigerbbs.com/280532533b0476328d845887d7308f4d","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4087513826666000","authorIdStr":"4087513826666000"},"htmlText":"Buy?","listText":"Buy?","text":"Buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097573592","repostId":1199606066,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9097545803,"gmtCreate":1645510884002,"gmtModify":1676534034809,"author":{"id":"3579391265651951","authorId":"3579391265651951","name":"CharlesKing","avatar":"https://static.tigerbbs.com/d8fbdcf3295ba7f84c1f2205610ea968","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3579391265651951","authorIdStr":"3579391265651951"},"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097545803","repostId":1199606066,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":48,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1199606066"}