Total Produce increases 2015 target

Total Produce plc, Europe’s leading fresh produce company, is pleased to confirm that trading for the first four months has been satisfactory, and the Group is increasing its full year adjusted earnings per share target into the upper half of the previously announced range between 9.20 cent to 10.20 cent.

Since the year end, the Group completed the acquisition of a 50% shareholding in the Gambles Group based in Toronto. Gambles was founded in 1989 and is one of Eastern Canada’s premier fresh produce companies with 2014 sales of CAD$170m 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.

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

Total Produce is in a strong financial 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.

For more information:
Brian Bell
Wilson Hartnell PR
Tel: +353 1 669 0030