Hortifrut reports increased earnings for the year ending June 2021
Santiago, Chile-based Hortifrut reported earnings before interest, taxes, depreciation, and amortization for the year ending June 2021 totaled $205.05 million.
Earnings increased, according to a news release, mainly due to a 45.98% growth in the volume sold during the period. The company reported increased blueberry volume in Peru, Chile, Mexico and China, and bigger raspberry volume in Mexico, Portugal and Morocco. In addition, the company reported value-added sales increased because of a merger carried out during 2020 of the frozen export business between Hortifrut and Alifrut.
“The good results are mainly explained due to good production results and our commercial platforms performance in the destination markets which, together with the optimization of the production curve and growth in demand for our products, resulted in an increase in volumes and sales prices,” Juan Ignacio Allende, CEO of Hortifrut, said in a news release.
