Ireland-based fruit and vegetable giant Total Produce has lifted its forecast for annual earnings after a “satisfactory” first four months of the year.
In a trading update, Total Produce said it was raising full-year adjusted earnings per share target into “the upper half” of its previously announced forecast range of EUR0.12 (US$0.13) to EUR0.13.
Go deeper with GlobalData
Total Produce, meanwhile, said, subject to shareholder approval, it would pay a final dividend of 2.2297 cent per share, which would represent a 10% increase on last year.
The company added: “Total Produce is in a strong financial position and continues to pursue attractive acquisition opportunities to further expand the group.”
In March, Total Produce announced a move to increase its stake in Canadian fresh produce supplier Oppenheimer Group from 35% to 65%. Total Produce first invested in Oppenheimer in 2013, when it acquired its initial 35% stake.
See Also:
In 2016, Total Produce generated higher annual group sales and earnings. Its sales increased 8.9% to EUR3.76bn over 2015. Total Produce’s net profit reached EUR39.3m in 2016, against EUR37.5m the year before.
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.
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
