T&G Global (TGG) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 rose 2.6% year-over-year to $572.3m, with operating profit up 30.3% to $11.6m.

• Apples business, led by ENVY™ brand surpassing $1 billion in global retail sales, drove growth, with significant sales increases in Asia.

• Strategic review prioritized Apples and VentureFruit for long-term growth, leading to the sale of New Zealand fresh produce, Fijian, and Pacific Islands export businesses, reported as discontinued operations.

• Recorded a $34.4m impairment on discontinued operations, resulting in a net loss of $30.5m for the period.

Financial highlights

• Group revenue: $572.3m (up from $557.9m in H1 2025).

• Operating profit: $11.6m (up from $8.9m in H1 2025).

• Net loss: $30.5m (vs. profit of $1.7m in H1 2025), driven by $34.4m impairment on assets held for sale.

• Basic and diluted EPS: (26.9) cents (vs. (0.9) cents in H1 2025).

• Cash and cash equivalents at period end: $70.1m.

Outlook and guidance

• Focused on building momentum in Apples and VentureFruit, with strong market demand and premium positioning.

• Proceeds from divestments to reduce debt and strengthen balance sheet.

• Anticipates revenue reduction from discontinued operations but expects improved capital allocation and growth in core segments.

• Monitoring El Niño risks and implementing resilience measures for upcoming crops.

• Confident in maintaining performance momentum in the second half of 2026.