Costa Group provides AGM trading Update

Following the completion of AGM on 25 May 2022, Costa Group Holdings Limited (ASX: CGC) on 26 May 2022 provided clarification related to quantitative trading update on expected full year CY22 earnings.

The Company highlighted that various media outlet have reported that Costa Group provided a trading update stating it expected full-year 2022 EBITDA to be higher by ~AU$5 million but net profit AU$6.4 million lower.

The Company clarified that the statement that was made related solely to the earnings impact of a change to lease arrangements for seven farms earlier leased from Vitalharvest, and now leased from Macquarie Asset Management.

Also, CY2022 operating and growth CAPEX is projected to be in line with previous guidance.

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