Skip to content
Join our Newsletter

Higher prices boosting bottom line of greenhouse vegetable producer

Higher prices and increased production helped boost revenue and profit for Delta-headquartered Village Farms International Inc. (TSX:VFF) during the first six months of 2010. Revenue for the greenhouse vegetable grower rose 21% to $77.

Higher prices and increased production helped boost revenue and profit for Delta-headquartered Village Farms International Inc. (TSX:VFF) during the first six months of 2010.

Revenue for the greenhouse vegetable grower rose 21% to $77.6 million from US$64.2 million for the six-month period ending June 30, 2010.

Greenhouse-grown tomatoes, one of its key products, saw a price increase of 30% in 2010 versus 2009, contributing to the company’s profit of US$5.5 million from US$267,000 in the same period in 2009.

Stronger market conditions contributed to more robust second-quarter results. Net sales rose 8.6% to $46.5 million from $42.8 million, producing a profit of $1.3 million compared with a net loss of $374,000 in the same period last year.

Michael DeGiglio, Village Farm’s CEO said, “We are pleased with the results of our second quarter as we continue to operate in a soft economy.”

Village Farm’s share price range during the past week: between $1.05 and $1.27; 52-week high: $1.83; 52-week low: $0.50.

[email protected]