TOTAL PRODUCE CONTINUES STRONG GROWTH
- Revenue up 12.2% to €2.15 billion
- Adjusted fully diluted EPS up 10.1% to 6.78 cent
- Adjusted EBITDA up 9.5% to €52.8m
- Adjusted EBITA up 12.0% to €42.5m
- Adjusted profit before tax up 11.8% to €39.0m
- Interim dividend up 10.0% to 0.8906 cent per share
- Continues to target increased full year adjusted earnings per share in the upper half of the previously announced range of 12.0 to 13.0 cent per share
Key performance indicators are defined overleaf
Commenting on the results, Carl McCann, Chairman, said:
“Total Produce has delivered a strong first half-year performance in 2017. Revenue has increased by 12.2% to €2.15 billion and adjusted earnings per share has increased by 10.1% to 6.78 cent.
The Group has continued its international expansion with a number of significant North American transactions. It increased its shareholding in the Oppenheimer group (‘Oppy’) from 35% to 65%. In addition, Oppy concluded important strategic agreements with the New Zealand based T&G Global. The Group’s Los Angeles headquartered Progressive Produce business increased its scale with the acquisition of Keystone Fruit Marketing. The Group is actively pursuing further investment opportunities.
We are pleased to announce a 10% increase in the interim dividend to 0.8906 cent per share. The Group continues to target increased full-year adjusted earnings per share in the upper half of the previously-announced range of 12.0 to 13.0 cent per share”.
For further information, please contact:
Brian Bell, Wilson Hartnell PR –
Tel: +353-1-669-0030, Mobile: +353-87-243-6130