Leading fruit and vegetable group Total Produce has announced that its earnings prediction for 2009 remains unchanged after the first four months of trading this year.
The Ireland-based company said on 5 March that, despite the current economic climate and negative currency translation movements, it was targeting a very solid earnings performance for 2009 with adjusted earnings in the range of 5.5 to 6.5 cent per share.
Having completed the first four months of its financial year, Total Produce said in a statement that it was “pleased to announce that its 2009 earnings targets remain unchanged”.
At the group’s annual general meeting this week, chairman Carl McCann told investors that despite the current financial climate, Total Produce was “well placed” to withstand consolidation in the retail sector.
Mr McCann told the Irish Independent after the meeting that Total Produce was also keen to make further acquisitions in continental Europe or the UK within the €20m to €40m range.
Total Produce, which operates 86 facilities in 17 countries, is involved in growing, sourcing, transporting, processing, packaging and marketing over 250m packages of fresh fruit, vegetables and flowers annually, and in the marketing of consumer products and health foods.
