Sunday 23 July 2017

Total Produce revenue jumps 10.4pc in after "strong" 2015

Carl McCann, chairman of Total Produce. Photo: Mac Innes Photography
Carl McCann, chairman of Total Produce. Photo: Mac Innes Photography
Michael Cogley

Michael Cogley

Revenue at Irish fruit and vegetable company, Total Produce, jumped 10.4pc to €3.45bn in 2015 after a strong performance from the firm.

In the company's full-year results filed this morning, profit before tax at the firm grew by 13.3pc, up to €58m.

Adjusted earnings before interest tax depreciation and amortisation (EBITDA) rose by 13.4pc to €82.8m while basic earnings per share jumped to 9.07c, up 2.7pc on the previous year.

Total Produce chairman, Carl McCann, praised a "strong" year for the firm.

"Total revenue has grown 10.4pc to €3.45bn with a 12pc increase in adjusted earnings per share to 10.58c. In February 2015, the Group increased its presence in North America with a 50pc investment in Gambles, a fresh produce company in Toronto with reported sales of CAD $170m," he said.

Mr McCann continued, outlining the firm's plans going into 2016.

"Post year-end, the group has continued its growth in North America with the acquisition of a 65pc interest in Progressive Produce based in Los Angeles with annual sales of US $200m."

Over the course of 2015 the firm's total dividend per share rose 15pc to 2.763c.

Total Produce also laid out its intentions to invest further as well as its target of between 10.5c and 11.5c earnings per share in 2016.

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