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Total Produce Posts 10.4% Increase In Revenue In H1

By Publications Checkout

Fresh produce giant Total Produce has posted a 10.4% increase in revenue to €1.91 billion in the first six months of the year, according to an interim management statement issued this morning (30 August).

The company's adjusted EBITDA was up 13.0% to €48.2 million for the period.

The period in question saw the group acquire 65% of Progressive Produce, a company headquartered in Los Angeles, as well a a number of other 'complementary' businesses.

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“Total Produce has delivered a very strong performance in the first six months of 2016," said chairman Carl McCann. "Revenue grew 10.4% with an 11.6% increase in adjusted earnings per share."

McCann added that Total Produce "continues to actively pursue further investment opportunities."

* Article by Stephen Wynne-Jones, European Supermarket Magazine

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