Irish fruit firm Total Produce has raised its outlook for the full year, after booking a strong increase in sales and earnings during the first half.

Sales rose 18.8% to EUR1.7bn (US$2.23bn) in the six months to end-June. Adjusted EBITDA rose 7.5% to EUR39.1m and adjusted pre-tax profit gained 9.8% to EUR31.4m.

Total Produce chairman Carl McCann said the group’s “strong performance” was driven by overseas expansion.

Total Produce expanded into North America in January, with an agreement to acquire 65% of the Oppenheimer Group. Total Produce has taken a 35% initial stake and committed to acquire a further 30% in 2017.

“Trading conditions are satisfactory and the group is revising upwards its full year earnings target into the upper half of the range between 8.00 to 8.80 cent per share,” McCann said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.