Fresh produce grower-importer Total Produce has reported on a 'satisfactory' set of results for the first six months of 2009, with pre-tax profits falling slightly by 2.3 per cent to €24.3m, and adjusted earnings before interest, taxation, depreciation and amortisation falling 4.7 per cent to €26.3m
The Ireland-based fruit and vegetable group saw total revenues, including shares in joint ventures and associates, increase by 1.2 per cent year-on-year to hit €1.3bn in the first half of the year.
'We are pleased to report growth in revenue to €1.3bn for thefirst-half year along with adjusted earnings per share almost unchangedat €4.06 per share,' said group chairman Carl McCann. 'These resultsare in line with expectations and consistent with the group'spreviously announced target earnings.
'The constant focus by Total Produce on costs has enabled the Group toovercome the tougher economic climate in various markets and tosuccessfully meet its targets,' he added.
Revenues in the group's fresh produce division grew 2.8 per cent to €1.2bn compared with the first half of 2008, despite challenging trading conditions in the current economic climate and short-term larger volumes of certain produce lines that exceeded demand.
'The group's interim dividend is maintained at €0.54 per share,' Mr McCann noted. 'Total Produce is also pleased to confirm that it continues to target adjusted earnings per share in the range of €5.5-€6.5 per share for the full year.'
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