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Company News Summary

Costa Group Holdings Provides Trading Update

10 Jan 2019  |  09:18:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Trading update, including earnings guidance

Costa Group Holdings announced that it has experienced subdued demand in a number of categories, namely tomato, berry and avocado during December 2018, and trading conditions in January 2019 appear to be slower than planned at this stage. This patchy demand has been reflected in reduced pricing for a number of product lines. The citrus off season which reflects the biennial nature of this crop also finished earlier than expected. The Company does not view the immediate issues as structural and regards the conditions as a cyclic situation with the expectation that trading for the 2019 calendar year will produce an NPAT-S result materially in line with previous guidance which would maintain an annual double digit CAGR for the 2 calendar years 2017 to 2019.

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