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Total Produce 'Targeting Continued Growth' For 2019

Total Produce has confirmed that the group is targeting continued growth for 2019.

The group’s full year earnings growth expectations remain unchanged, despite competitive markets and more uncertainty surrounding international trade, the international fresh produce company said in its latest trading update.

Subject to shareholder approval, a final dividend of 2.5140 cent per share will be paid on 6 June 2019 representing a 2.5% increase on last year, the group outlined.

Dole Foods Acquisition

On the 31 July 2018 the group completed the acquisition of a 45% stake in Dole Food Company (Dole) in a deal reportedly worth $300 million.

Dole, which is one of the largest fresh produce companies in the world is currently trading in line with expectations, and 2019 will be the first full-year incorporating the Group’s share of Dole’s results, the statement said.

Following the acquisition last year company chairman, Carl McCann said: “The 2019 financial year will be the first full year reflecting the scale of this transformative transaction.

"The conclusion of the Dole transaction represents a very significant development in the Group’s successful expansion strategy.”

© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition. 

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