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Fresh Produce

Total Produce Posts €4.29 Billion In Revenue For 2017

Fresh produce company Total Produce has posted a total revenue increase of 13.9% to €4.29 billion for 2017.

Adjusted fully diluted EPS were up 11.7% to 13.48 cent. Adjusted EBITDA were up 10.1% to €104.4 million, while adjusted EBITA were up 13.3% to €83.5 million.

Group revenue increased by 18.3% to €3.67 billion and the company’s profit before tax was up 43.2% to €72.5 million, with adjusted profit before tax up 13.3% to €76.7 million.

Total dividend per share was up 10.0% to 3.43 cent.

Acquisition And Expansion Strategy

“Total Produce has delivered very positive results in 2017. Total revenue has increased by 13.9% to €4.29 billion with an 11.7% increase in adjusted earnings per share to 13.48 cent,” said Carl McCann, chairman, Total Produce.

“The Group announced on 1 February 2018 that it had acquired a 45% stake in Dole Food Company for $300 million, subject to regulatory approval,” he continued. “It represents a very significant step in the history of Total Produce and a continuation of its successful acquisition and expansion strategy.

“Total Produce is targeting continued growth in 2018, on a like-for-like basis.

“The Group is also pleased to propose a 10% increase in final dividend to 2.4527 cent per share.”

© 2018 - Checkout Magazine by Kevin Duggan

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