Tonkens continued with its strategy of increasing volumes of higher-margin processed vegetables in FY18/19, supporting a 17% y-o-y increase in group revenue. However, as flagged by management in March, the prolonged drought in calendar year 2018 caused a scarcity of vegetables, cutting profit before tax by €0.6m to €0.2m. Management expects that continued drought in calendar year 2019 will result in a similar financial performance for FY19/20.
06 Dec 2019
Tonkens Agrar - Drought affects profits
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Tonkens Agrar - Drought affects profits
Tonkens Agrar AG (GTK:ETR) | 0 0 0.0% | Mkt Cap: 7.70m
- Published:
06 Dec 2019 -
Author:
Anne Margaret Crow -
Pages:
4
Tonkens continued with its strategy of increasing volumes of higher-margin processed vegetables in FY18/19, supporting a 17% y-o-y increase in group revenue. However, as flagged by management in March, the prolonged drought in calendar year 2018 caused a scarcity of vegetables, cutting profit before tax by €0.6m to €0.2m. Management expects that continued drought in calendar year 2019 will result in a similar financial performance for FY19/20.