Total Produce Posts 10.4% Increase In Revenue In H1
Fresh-produce giant Total Produce has posted a 10.4% increase in revenue to €1.91 billion in the first six months of the year, according to an interim management statement issued on 30 August.
The company's adjusted EBITDA was up 13%, to €48.2 million, for the period.
The period in question saw the group acquire 65% of Progressive Produce, a company headquartered in Los Angeles, as well as a number of other, 'complementary' businesses.
“Total Produce has delivered a very strong performance in the first six months of 2016," said chairman Carl McCann. "Revenue grew 10.4%, with an 11.6% increase in adjusted earnings per share."
McCann added that Total Produce "continues to actively pursue further investment opportunities".
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.