Australia-based fresh produce supplier Costa Group pointed to the breadth of its business as it booked higher annual sales and profits.

Costa Group posted net profit after tax of AUD57.7m (US$45.6m) for the 12 months to 25 June, compared to AUD25.3m a year earlier.

The company’s net profit before accounting for “self-generating and regenerating assets” and “material items” was AUD60.7m, up 37.3% on the previous financial year.

Costa Group, meanwhile, said its EBITDA before accounting for “self-generating and regenerating assets” and “material items” stood at AUD115.2m, a rise of 29.4% on the prior year.

The business’ revenue increased 10.7% to AUD909.1m.

Harry Debney, the company’s CEO, added: “Our core produce categories have delivered solid performances for the year having all exceeded their targets. It is further evidence of the strength in diversity of our portfolio, which is now also being reinforced by our strategic avocado acquisitions.”

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By GlobalData

Last month, Costa Group announced the acquisition of the Lankester Avocado orchards and packing operations from the Lankester family