Tuesday 21st June 2016
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T&G Global, the fruit marketer controlled by Germany's BayWa, is opening a new office in Thailand as it looks to further its global expansion after posting an 83 percent gain in profit last year.
In notes from its annual meeting posted to the NZX, chief executive Alastair Hubert said T&G would shortly open a new office in Bangkok, adding to its Asian footprint with an office in Shanghai, China.
"This expansion builds on our new joint venture with Zespri and will be a gateway into the region not only for sales of kiwifruit but other categories as well, notably our popular Jazz and Envy apples," Hubert said.
In February, T&G reported an 83 percent gain in annual profit to $19.5 million in 2015.
Hubert said the company had given its staff a results-based incentive payment for the first time in 2015, and discussed 'Strategy 2022', "an evolution and optimisation of T&G's current strategy."
The strategy will focus on sustainable growth, accountability, diversity, and health and safety, he said without providing details.
The company's shares were unchanged at $2.75 and have gained 31 percent so far this year.
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