Why the Costa (ASX:CGC) share price has surged 70% in a year

Horticultural producer Costa Group Holdings Ltd (ASX: CGC) has had a good run over the last twelve months. During this period, the Costa share price has risen by 73.58%, despite the challenges presented by the COVID-19 pandemic.

Let’s take a closer look at what’s been driving the Costa share price.

Rundown of 2020 results

The company produced relatively solid results in 2020, despite the market downturn.

In the company’s last announcement on its financials for calendar-year 2020 (CY20), Costa reported that its earnings before interest, tax, depreciation and ammortisation (EBITDA) for the half-year was $93.7 million. This represented a 13.7% increase on CY19’s EBITDA.

Those earnings translated to a bottom line net profit…