Dole Foods Reports Third-Quarter EBITDA of €40M

By Publications Checkout
Dole Foods Reports Third-Quarter EBITDA of €40M

Total Produce, the fresh produce company, released Dole Food Company’s third-quarter results, reporting earnings before interest, taxation, depreciation, and amortisation (EBITDA) of €40 million for the three months to October 6th.

Total Produce completed the acquisition of 45% of the issued share capital of Dole Food Company (Dole) on 31 July 2018.

Dole Foods

It added that Dole Fresh Vegetables has been affected by an industry-wide safety notice - not directly linked to Dole - and an oversupply resulting in lower pricing, which reduced Dole’s first-half EBITDA by approximately €26 million, prior to the investment by Total Produce.

Dole Fresh Fruit has performed strongly, the holding company said.

Dole sold its corporate headquarters for €43.7 million and recognised a net gain of €6.3 million, which Total Produce said is not included in the adjusted EBITDA.

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At the end of August, Total Produce reported that its revenues for the first half of 2018 increased by 1.8% to €2.2 billion.

© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition. 

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