Total Produce Increases Full-Year Earnings Target
Total Produce plc has issued a statement confirming that, following satisfactory trading for the first four months of 2015, it is increasing its full-year adjusted-earnings-per-share target, into the upper half of the previously announced 9.2c to 10.c range.
The fresh-produce company recently completed the acquisition of a 50% shareholding in Toronto-based Gambles Group, one of Eastern Canada’s top fresh-produce companies, with 2014 sales of CAD$170m.
Total Produce has made three other acquisitions in North America since 2013, and states that it is in “a strong financial position and continues to pursue attractive acquisition opportunities to further expand the group”.
The group also plans to purchase Total Produce shares in the market, as appropriate, subject to annual shareholder approval, at its General Meeting.
According the statement, the final dividend of 1.763 cent per share, a 6-per-cent increase on last year and also subject to shareholder approval, will be paid on 22 May this year.
© 2015 Checkout Magazine by Jenny Whelan