Total Produce in 'strong position to expand' -

Total Produce in 'strong position to expand'

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Total Produce in 'strong position to expand'

Irish multinational Total Produce today announced it is increasing its full year adjusted earnings per share target into the upper half of the previously reported range between 9.20% to 10.20%. pinapple_91018319 small

According to a release, trading for the first four months of the year has been 'satisfactory'.

"The final dividend of 1.763% per share, a 6% increase on last year and subject to shareholder approval, will be paid on May 22 2015," says the statement.

"Total Produce is in a strong position and continues to pursue attractive acquisition opportunities to further expand the Group.

"The Group will also purchase Total Produce shares in the market as appropriate, subject to the annual shareholder approval at its General Meeting today [May 20]."

The release adds that since the year end, Total Produce has completed the acquisition of a 50% holding in the Toronto-based Gambles Group.

"Gambles was founded in 1989 and is one of Eastern Canada's premier fresh produce companies with 2014 sales of CAD$170 million (US$139 million) and employing over 280 staff, serving the retail, wholesale and food-service sectors."

This is the fourth acquisition by Total Produce in North America since 2013.


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