TOTAL PRODUCE INCREASES EARNINGS BY 10.2%
- Revenue(1) up 18.8% to €1.7 billion
- Adjusted EBITDA(1) up 7.5% to €39.1m
- Adjusted EBITA(1) up 9.8% to €31.4m
- Adjusted profit before tax(1) up 13.7% to €28.2m
- Adjusted earnings per share(1) up 10.2% to 4.84 cent
- Interim dividend increased by 7.5% to 0.6095 cent per share
(1) Key performance indicators are defined overleaf
Commenting on the results, Carl McCann, Chairman, said:
"Total Produce has continued to deliver good results in 2013 with an 18.8% increase in revenues and a 10.2% increase in earnings. The Group’s strong performance is driven by its overseas expansion programme.
The Group expanded into the North American Market in January 2013 with an agreement to acquire 65% of the Oppenheimer group, 35% initially with a commitment to acquire a further 30% in 2017.
Trading conditions are satisfactory and the Group is revising upwards its full year earnings target into the upper half of the range between 8.00 to 8.80 cent per share. The Group is pleased to announce a 7.5% increase in the interim dividend to 0.6095 cent per share."
3 September 2013
For further information, please contact:
Sheila Gahan, Wilson Hartnell PR
Tel: +353-1-669-0039
Mobile: +353-87-234 2409
2013 Interim Results