Shares in Total Produce rose today (4 September) after the Ireland-based group sweetened its forecast for full-year earnings.
The company increased its target for earnings per share “towards the upper end of the range between seven and eight cent per share” following higher profits in the first half of 2012.
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In the half year to the end of June, Total Produce saw underlying net profit, which excludes one-off items, increase 1.5% to EUR15.3m. On a reported basis, net profit fell 6.5% to EUR15.6m.
Nevertheless, Total Produce said it “delivered a strong performance” with adjusted EPS up 6.7%, helped by acquisitions in the last year.
Revenue increased 5% to EUR1.4bn.
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