Irelandbased fruit and vegetable multinational To

first_img Ireland-based fruit and vegetable multinational Total Produce notched a 17.7% year-on-year rise in revenues in 2018, driven in part by the investment in Dole completed at the end of July.Revenues – including figures from the company’s 45% stake in Dole – increased to €5.043 billion from €4.286 billion, although pre-tax profit fell 3.7% to €69.8 million from €72.5 million.Excluding the results of Dole over the final five months of the year, Total Produce registered a 1.6% rise in revenue to €4.35 billion and a 5.7% increase in adjusted EBITDA to €110.4 million.The first full year including the Dole results will be 2019“We are pleased that Total Produce has delivered continuing good results in a more challenging year,” said Carl McCann, chairman of Total Produce. Dole trucks attacked in Honduras as protests build … He added that trading in early 2019 has been “satisfactory”.”Total Produce is targeting an increase in the 2019 adjusted fully diluted earnings per share, including Dole in the mid-to-upper single digit range over the 2018 adjusted earnings per share of 13.50 cent,” he said.He described the acquisition of the Dole shareholding – a €300 million deal announced in February 2018 – represents a “transformational change” for Total Produce that brings together two of the world’s leading fresh produce companies.Revenues in Total Produce’s euro-zone segment dropped by 1.2% to €1.717 billion with a 1% rise in adjusted EBITA to €27.3 million, while revenues at its non-euro zone segment fell by 2% to €1.512 billion with adjusted EBITA down 0.3% at €41.6 million.The international segment saw a 10.7% rise in revenue to €1.175 billion with adjusted EBITA increasing almost 28% to €18.9 million on the back of the contribution of acquisitions. Europe accounts for 73% of Total Produce’s revenue, while for Dole North America accounts for 65% of revenue.  U.S.: Dole inks deal for executive office in uptow … You might also be interested in March 07 , 2019 Speculation mounts over Dole corporate office move … last_img

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