Tuesday, September 03 07:49:48
Fruit and vegetable distributor Total Produce has reported higher half yearly revenues and pre-tax profits for the six months to the end of June on the back of its overseas expansion drive.
Total Produce said its revenues rose by 18.8pc to E1.7 billion, while adjusted pre-tax profits increased by 13.7pc to E28.2m. The company said its interim dividend increased by 7.5pc to 0.6095 cent per share.
During the six month period, the company expanded into the North American market with a deal to buy 65pc of the Oppenheimer Group. Total will initially buy 35pc of the firm with a commitment to buy another 30pc in 2017.
In its results statement, the company said that trading conditions are satisfactory and so it is revising upwards its full year earnings target into the upper half of the range between 8 to 8.80 cent per share according to RTE News.