T&G Global trims half-year losses
Food and vegetable grower and marketer T&G Global has trimmed its half-year losses compared to last year, as it makes progress delivering its strategy and continues to recover from the impact of Cyclone Gabrielle.
For six months ending 30 June 2025, T&G Global reported revenue of $920m, up from $820m for the same period last year. Net profit before tax was $2.3m, compared to $8.2m loss last year. The company reported a net loss of $18.6m for the same six months last year.
The company is a major importer and exporter of fresh produce. It grows, markets and sells apples, tomatoes, blueberries and citrus crops under globally-known brands.
T&G Global chair Benedikt Mangold says the company is beginning to see the results of its long-term growth and investment strategy.
“Our first six months’ performance is the result of increased revenue from T&G’s strategy and investments, strong execution, and an absolute focus on productivity, efficiencies and cost control across the whole business. It is a key step in delivering sustained and profitable growth, and we look forward to building upon this,” says Mangold.
Chief executive officer Gareth Edgecombe echoed this sentiment, saying “This result reflects the strength of our growth strategy and the mahi of our team. Global demand for our premium apple brands is growing in line with our volumes, and across our business we’ve strengthened customer and grower relationships and optimised our value chain. While global volatility continues, we’re firmly focused on what’s in our control and ensuring our business is strong and resilient.”
T&G’s Apples business delivered a sustained uplift in performance, with revenue increasing 15%, to $675.3 million, compared to $589m in the comparable 2024 half year period. Operating profit increased 99% to $47.2 million, compared to $23.7 million in the corresponding 2024 period.
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“This strong improvement reflects the significant investment in our long-term Apples strategy,” said Edgecombe.
“Across North America and Aotearoa New Zealand, it was a high-quality crop, with excellent tasting fruit, with good colour, sizing and yields. Significant plantings of ENVY apples over the past few years have contributed to it being a record year for branded apple volumes.
“Our Asia retail programmes are driving new growth, with strong performance in modern trade channels, and the opening of our Taiwan office marks a significant step in our expansion. In North America, while the market is challenging, ENVY apples are outperforming the total apples category in a number of key metrics.”
Revenue in T&G Fresh increased to $229.2 million, compared to $218.3 million in the comparable 2024 period, and operating profit increased to $3.7 million, from a loss of $11.3 million in the corresponding 2024 period.
“Over the last two years, we’ve been working to create a stronger and more profitable T&G Fresh business. The results of this continuing transformation, together with a focus on productivity, efficiencies and cost control, has helped drive improvements in the first half of 2025, despite weak market conditions,” says Edgecombe.
