Sunday 4 December 2016

Total Produce ups earnings target after "satisfactory" trading

Paul O'Donoghue

Published 20/05/2015 | 07:49

Carl McCann, chairman, Total Produce, addressing the group’s agm in Dublin yesterday
Carl McCann, chairman, Total Produce, addressing the group’s agm in Dublin yesterday

Irish fresh food company Total Produce has upped its share earnings forecast on the back of four months of “satisfactory” trading.

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In an interim trading statement issued this morning ahead of its annual general meeting in Dublin, the company said that it is increasing its full year adjusted earnings per share target into the upper half of the previously announced range between 9.20 cent to 10.20 cent.

The firm said that, subject to shareholder approval, it will pay a final dividend of 1.763 cent per share on 22 May 2015.

The statement added that Total Produce is “in a strong financial position and continues to pursue attractive acquisition opportunities to further expand the group”.

The company also announced that it has completed the acquisition of a 50pc shareholding in the Gambles Group based in Toronto. This is the fourth acquisition by Total Produce in North America since 2013.

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