Lima, Peru-based Camposol Holding Ltd. reported record fourth-quarter and full-year sales for 2015 and predicted continued growth in blueberries and avocado sales.
Higher volume of blueberries, tangerines and mangoes helped the company post record earnings (before interest, tax, depreciation and amortization) of $19.2 million for the fourth quarter of 2015 and $42.8 million for the year, according to a news release.
Sales were $86.4 million in the fourth quarter, a new record, and up 18.4% compared with the fourth quarter of 2014, according to the release. Sales for the entire year, according to the release, totaled $289.3 million, up 8.1% from 2014.
The company reported average prices for the full year were up 12% from 2014, pushed up by higher prices for blueberries and mangoes, according to the release.
According to the release, the Camposol expects to continue its diversification strategy by increasing blueberry production. Camposol expects to increase direct sales to retailers and adding value to its clients through higher-margin commercial, marketing and service initiatives.
The company’s growth without any substantial additional capital expenditures will continue in the next few years reflecting increasing volumes of avocados, blueberries and shrimp, Manuel Salazar Diez Canseco, CEO of Camposol Holding Ltd. said in the release.
Long-term growth prospects for exotic fruit and vegetable markets are excellent, according to the release, with avocados and blueberries consumption growing.
The release said the company expects good demand for all fresh produce in general and for avocados specifically in both the U.S. and Europe.