Strong half-year for Total Produce

The international marketing magazine for fresh produce buyers in Europe
Tom Joyce

BY TOM JOYCE

@tomfruitnet

Strong half-year for Total Produce

Revenue is up significantly at the Ireland-based multinational, as sales rise within and without the Eurozone and sage investments pay off

Strong half-year for Total Produce

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Carl McCann, chairman of Ireland-based produce giant Total Produce, has hailed the company's "very strong" half-year performance, with revenues jumping by more than 10 per cent, according to Insight.

The group reported revenues of €1.91bn for the six months to 30 June, up from €1.73bn during the year-earlier period. Pretax profit also rose, from €24.2m to €25.6m.

Revenue from the group’s non-Eurozone businesses slightly outperformed that in its Eurozone divisions. Sales in the UK, Czech Republic, Poland and Scandinavia increased by 5.8 per cent; in Ireland, France, Italy, the Netherlands and Spain, sales rose 4.4 per cent.

McCann attributed part of the company’s success to its shrewd investment strategy. “Total Produce has delivered a very strong performance in the first six months of 2016," he said. "The group continued its expansion in North America in 2016, acquiring 65 per cent of Progressive Produce, a company headquartered in Los Angeles. In addition, the group made a number of other investments to complement its existing businesses. The group continues to actively pursue further investment opportunities."

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