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Total Produce Raises 2017 Earnings Target

Published on May 25 2017 3:25 PM in Fresh Produce tagged: Featured Post / Total Produce / Oppy

Total Produce Raises 2017 Earnings Target

Having confirmed that trading for the first four months of this year has been ‘satisfactory’, Total Produce is raising its full year adjusted earnings per share target into the upper half of the previously announced 12.0 cent, to the 13.0 cent range.

As previously announced on 2 March 2017, the Group purchased a further 30% of the Oppenheimer Group (Oppy) for a consideration of €28.4 million.

In addition to the initial 35% acquired in 2013, this brings Total Produce’s shareholding in Oppy to 65% after a total investment of €43.4 million.

Headquartered in Vancouver, Canada and with sales of almost CAD$1 billion (approximately €720 million), Oppy operates from a network of locations throughout North America providing fresh fruit and vegetables on a year round basis.

Subject to shareholder approval, a final dividend of 2.2297 cent per share will be paid on 26 May 2017 representing a 10% increase on last year.

© 2017 - Checkout Magazine by Jenny Whelan

 

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