Costa Group Holdings (ASX: CGC) happens to be leading grower, packer and marketer of fresh fruit & vegetables in Australia. On Australian Securities Exchange or ASX, the company is listed under the ticker “CGC.” It recently gave information about the results for the six-month financial period ended December 30, 2018. The company stated that they are changing financial year end to the calendar year reporting because of ever-increasing proportion of its earnings occurring in 1H of the calendar year. The subdued trading in the number of produce categories was witnessed during December. This, along with the late impact of citrus ‘off year’ crop, have negatively impacted NPAT-S earnings and, as a result, they are below plan by around $3.5 million. The company added that berry category expansion programs throughout Australia, China and Morocco are ramping up to plan. The China plantings happen to be 110 hectares across 3 farms.
The company also gave information about the change in of Director’s interest notice. It announced that Janette Kendall, via on-market trade, has acquired 3,802 ordinary shares. The consideration for the same happens to be $5.22 per share. Before this change, he had 19,191 securities and, after the change, the number stood at 22,993. Also, as per the press release dated March 18, 2019, Harry Debney had unloaded shares for the purposes of funding the exercise of options as well as to meet income tax obligations.
Costa Group Holdings had also announced that Tim Goldsmith, via on-market trade, had acquired 10,000 ordinary shares. The consideration for the same stood at $5.39 per share. After the change, the number of securities was 10,000. Not so long ago, the company had announced the Board changes with the help of press release. According to release dated February 27, 2019, Mr. Kevin Schwartz had resigned as non-executive director of Costa Group Holdings effective February 28, 2019. Mr. Neil Chatfield has thanked Mr. Kevin Schwartz for the valuable contribution. He added that Mr. Kevin’s strong understanding and insights into the industry, along with the investment skills, had been pivotal in guiding the growth agenda and establishing the sustainable platform. In the same release, the company stated that Dr. Jane Wilson would be joining the Costa Board as an independent non-executive director effective April 1st, 2019. The release added that Dr. Wilson serves as the guardian of Future Fund Board, which is Australia’s Sovereign Wealth Fund, in addition to serving as non-executive director of Transurban Ltd as well as Sonic Healthcare Ltd.
At the time of writing (22 March 2019 AEST 03:38 PM), the last traded price of Costa Group Holdings was A$5.0160 per share and CGC is having the market capitalization of ~$1.62 billion and, as per Australian Securities Exchange, the company’s stock price is trading slightly towards 52-week low. Costa Group is having an annual dividend yield of 2.61%. As per ASX, the company’s P/E ratio stood at 14.010x. In the past one month, the stock posted a 2.85% return.
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