Total Produce Targets Mid-Single-Digit Adjusted EBITDA Growth
Ireland-based fresh produce giant Total Produce has confirmed that it continues to target adjusted EBITDA growth in the mid-single-digit range, excluding the 45% Dole contribution, for the five months ending December 2018.
It is also targeting 2018 full-year adjusted earnings per share on a like-for-like basis in line with 2017, excluding Dole and related share issue.
In August of this year, the company posted a 1.8% increase in revenue in the first half of its financial year, of €2.2 billion.
Shortage And Oversupply
In 2018, fresh produce markets have experienced periods of shortage and oversupply because of the extended unusual weather conditions, which affected supply and demand, and resulted in lower pricing.
For 2019, including Dole, Total Produce is targeting an increase in the adjusted earnings per share in the mid-to-upper single-digit range over the 2018 adjusted earnings per share, which excludes Dole.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.