NZ apple growers celebrate post-cyclone recovery
[sgp-banners site='FFP' definitions='{"ambiente":"insidepage","pa\u00eds":"usacan"}' adunit='ffp_rgt2' width=320 height=100 cssClass='mt-6 mb-6' mobile=true][sgp-banners site='FFP' definitions='{"ambiente":"insidepage","pa\u00eds":"usacan"}' adunit='ffp_cont1' width=728 height=90 cssClass='mt-6 mb-6'][sgp-banners site='FFP' definitions='{"ambiente":"insidepage","pa\u00eds":"usacan"}' adunit='ffp_cont1' width=320 height=100 cssClass='mt-6 mb-6' mobile=true]
In early 2023, Cyclone Gabrielle swept through New Zealand's producing regions, causing millions in damages to some of the country's most prominent apple growers.
[sgp-banners site='FFP' definitions='{"ambiente":"insidepage","pa\u00eds":"usacan"}' adunit='ffp_rgt3' width=320 height=100 cssClass='mt-6 mb-6' mobile=true][sgp-banners site='FFP' definitions='{"ambiente":"insidepage","pa\u00eds":"usacan"}' adunit='ffp_rgt4' width=320 height=100 cssClass='mt-6 mb-6' mobile=true]T&G Global, a leader in apple production, has shared positive results for 2024, led by high demand for its premium ENVY and JAZZ branded apples and higher pricing in global markets.
The JOLI™ apple is also a part of the company's portfolio. Additionally, they have a range of commercial varieties, such as Royal Gala, Pacific Queen, and Pacific Rose.
T&G Global Chair Benedikt Mangold said the results demonstrate great improvement.
“It was a year of continued recovery following the devastating effect of Cyclone Gabrielle. While our results are not where we want them to be, it is pleasing to see the momentum in the business, particularly in Apples, which is the engine room for our growth,” he said.
[sgp-banners site='FFP' definitions='{"ambiente":"insidepage","pa\u00eds":"usacan"}' adunit='ffp_news0' width=728 height=90 cssClass='mt-6 mb-6'][sgp-banners site='FFP' definitions='{"ambiente":"insidepage","pa\u00eds":"usacan"}' adunit='ffp_news0' width=320 height=100 cssClass='mt-6 mb-6' mobile=true]Apple's revenue rose 5% to $859.1 million, and the business achieved an operating profit of $43.7 million, compared to $10.3 million in the year prior.
T&G Global Chief Executive Gareth Edgecombe said the apple business accounted for 63% of T&G’s revenue of $1.36 billion, up 2% in 2023.
Following the impact of the cyclone, this year’s results represent a significant performance turnaround. It is heartening to see the investments made in our apples business supporting better performance and growth,” said Edgecombe.
He pointed out that the global premium apple market continues to grow, particularly in emerging Asian markets.
"Our growth strategy is supported by a framework to unlock that growth through an expanded presence in key global markets and retail and wholesale channels. With this, volumes, revenue, and profitability will increase,” he said.
Looking ahead, Edgecombe said the 2025 Aotearoa New Zealand apple harvest is on track to be a great high-quality crop with exceptional color and taste, and the focus is on excellence in delivering the apple strategy.
Improving consumer sentiment will benefit T&G Fresh, which has reduced its costs and improved efficiencies to strengthen margins.
