Double Digit Revenue Growth At Total Produce
Published on Mar 4 2014 7:32 AM in Fresh Produce
Fruit producer Total Produce saw its revenues rise by 13% last year to €3.2 billion, according to its full year accounts to 31 December, published this morning.
The group's growth has been predominantly driven by a number of acquisitions in recent months, including the recent investment in Oppenheimer in North America.
Adjusted profit before tax was up 12.5% to €52.9 million (2012: €47 million).
The accounts noted that the 'results were marginally affected by currency translation in the year primarily due to the weakening of Sterling', however the 'trading results in all of the operating divisions within the Group’s core Fresh Produce Division were improved on 2012'.
“Total Produce has recorded a strong performance in 2013 with total revenue increasing by 13.0% to €3.2 billion and adjusted earnings per share increasing by 10.5% to 8.77 cent per share," said Carl McCann, Total Produce chairman.
"We are also pleased to announce a 10% increase in the final dividend to 1.66 cent per share. The Group actively continues to pursue further investment opportunities and is targeting adjusted earnings per share for 2014 in the range of 8.4 cent to 9.4 cent per share."
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