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Costa Group (CGC) FY22 result

Moving on from a bad crop

23 February 2023

Costa Group reported a weak FY22 result with sales up 11%, but EBITDA down 2%. The quality of its citrus crop dragged down pricing and profit margins significantly. Elsewhere, berries and mushrooms showed good pricing growth, while tomato prices were down. The company had high cost growth in FY22 and there will be additional freight and wage cost headwinds.

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