Ireland-based fresh produce giant Total Produce has announced its preliminary results for the year ending 31 December 2010.
Revenues at the group increased by seven per cent to €2.6bn, thanks to a strong performance in the group's core fresh produce division, while profit before tax rose by 18.4 per cent to €33.6m.
The company also reported a 5.7 per cent increase in adjusted earnings per share to 6.84 cent per share.
Chairman Carl McCann commented: 'This result reflects the strength and broad base of the group's operations against a background of tougher economic conditions in certain locations.'
The group revealed that its fresh produce operations in the Eurozone (particularly Continental Europe) and Scandinavia had performed well, with revenues growing by 11.4 per cent and 9.6 per cent respectively.
However, the UK fresh produce business endured a 'challenging' year, according to the company, due to poor weather conditions in the first quarter and difficult trading conditions in the wholesale market, although the soft fruit business did continue to grow.
According to Mr McCann, Total Produce currently enjoys a strong financial position and plans to continue to 'actively pursue acquisition opportunities'.
No comments yet