TOTAL PRODUCE PLC DELIVERS CONTINUED GROWTH IN 2018
- Revenue up 1.8% to €2.2 billion
- Adjusted EBITDA up 7.4% to €56.7m
- Adjusted EBITA up 7.3% to €45.6m
- Adjusted profit before tax up 7.0% to €41.8m
- Adjusted fully diluted EPS (excluding impact of share placing) up 2.3%
- Adjusted fully diluted EPS (including impact of share placing) down 11.4%
- Interim dividend increased by 2.5% to 0.9129 cent per share
Key performance indicators are defined overleaf
Commenting on the results, Carl McCann, Chairman, said:
“Total Produce has delivered continued first-half growth in 2018. The Group’s first-half adjusted EBITDA increased by 7.4%, and its adjusted EBITA increased by 7.3%. The Group continues to target full year growth excluding the impact of the Dole transaction and the related share placing.
As announced on 1 February 2018, the Group entered into an agreement to acquire a 45% stake in Dole Food Company, one of the largest fresh produce companies in the world, for $300m along with options to further increase the Group’s stake. The transaction completed on 31 July 2018 having received regulatory approvals.
On 1 February 2018, 63 million ordinary shares were issued raising $180m to finance the Dole transaction. The 2019 financial year will be the first full year reflecting the scale of this transformative transaction. The conclusion of the Dole transaction represents a very significant development in the Group’s successful expansion strategy.
An interim dividend of 0.9129 cent per share will be paid on 12 October 2018 representing a 2.5% increase on last year.”
For further information, please contact:
Peter O’Brien, Wilson Hartnell PR – Tel: +353-1-669-0030, Mobile: +353-87-811-4637