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Dole Food Sees Adjusted EBITDA Down By €6.5m In Q3

Published on Nov 19 2018 3:09 PM in Fresh Produce tagged: Trending Posts / Total Produce / EBITDA / Dole food company

Dole Food Sees Adjusted EBITDA Down By €6.5m In Q3

Fruit and vegetable producer Dole has reported an adjusted EBITDA of $45.4 million (€40 million) for the third quarter of its financial year, down $7.4 million (€6.5 million) from $50.1 million (€44 million) in the same period last year.

Irish fresh-produce giant Total Produce completed the acquisition of a 45% equity stake in Dole Food Company on 31 July 2018.

The company’s performance was affected by an industry-wide safety notice – one not directly linked to Dole – and an oversupply that resulted in the low pricing of products.

Dole’s first-half EBITDA also fell by around $30 million, before the investment by Total Produce.

Dole recently sold its corporate headquarters for $50 million and registered a net gain of $7.3 million, which is not included in the adjusted EBITDA results.

© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

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