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Fresh Produce

Total Produce Sees Revenue Increase 12% In First Half Of 2017

Irish fresh produce provider Total Produce has reported an increase in revenue of 12% to €2.15 billion for the first half of the year, ending 30 June 2017.

The group says that it benefited from the contribution of acquisitions in the period, as well as a 4% like-for-like growth in revenue.

It also reported that adjusted profit before tax increased by 11.8% to €3.9 million, while adjusted EBITDA grew by 9.5% to €52.8 million.

Continued Growth

"Total Produce has delivered a strong first half-year performance in 2017," said Carl McCann, chairman of Total Produce.

"The group has continued its international expansion with a number of significant North American transactions. It increased its shareholding in the Oppenheimer group from 35% to 65%."

He concluded that, "We are pleased to announce a 10% increase in the interim dividend to 0.8906 cent per share. The group continues to target increased full-year adjusted earnings per share in the upper half of the previously-announced range of 12.0 to 13.0 cent per share."

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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