TOTAL PRODUCE INCREASES EARNINGS BY 4.5%
- Adjusted fully diluted EPS(1)(2) up 4.5% to 9.45 cent
- Total revenue(1) of €3.13 billion
- Operating profit (before exceptional credits) up 0.1% to €47.0m
- Adjusted EBITDA(1) down 1.5% to €73.0m
- Final dividend up 6.0% to 1.763 cent per share
- Targeting 2015 adjusted fully diluted EPS in the range of 9.2 to 10.2 cent per share
(1) Key performance indicators are defined overleaf
(2) The calculation of adjusted earnings per share for 2013 is restated to ensure conformity with the current year calculation whereby fair value movements on contingent consideration are excluded from adjusted earnings. Management believe this presentation more fairly presents the underlying trading performance of the Group.
Commenting on the results, Carl McCann, Chairman, said:
“Total Produce has delivered a robust performance in 2014 and is pleased to record a 4.5% increase in adjusted earnings per share in a mixed year for the fresh produce industry.
The Group was active in corporate development in 2014 with investments of over €22m in Europe and North America. Post year-end, the Group completed its fourth investment in North America with a 50% investment in Gambles, the Toronto based fresh produce company with annual turnover of CAD$170m.
We are also pleased to propose a 6.0% increase in the final dividend to 1.763 cent per share. The Group actively continues to pursue further investment opportunities and is targeting adjusted earnings per share for 2015 in the range of 9.2 to 10.2 cent per share”
3 March 2015
For further information, please contact:
Brian Bell, Wilson Hartnell PR
Tel: +353-1-669-0030
Mobile: +353-87-243-6130
2014 Preliminary Results