Produce grower and exporter T&G Global Is Expecting To Post A Pre-Tax Loss Of Up To $34 Million Dollars As A Result Of Damage To Its Hawke’s Bay Orchards From Cyclone Gabrielle

Produce grower and exporter T&G Global is expecting to post a pre-tax loss of up to $34 million dollars as a result of damage to its Hawke’s Bay orchards from Cyclone Gabrielle. The company has made the forecast after assessing damage from February’s cyclone. T&G Global chief executive Gareth Edgecombe said significant work continues on the remediation of impacted orchards, especially the removal of silt. While most of the company’s owned and leased orchards were not impacted, four orchards were severely affected, representing about 13% of the company’s planted hectares in the region. A further 22% of the planted hectares in Hawke’s Bay were impacted to a varying extent and were expected to have reduced productive capacity for two-to-three years.