Total Produce, the distribution company demerged from fruit group Fyffes late last year, has reported adjusted pre-tax profits of €36.1m for last year. This compares with €35m in 2005.
Total sales were 11% higher at €1.86 billion. lifted by contributions from two joint ventures in Denmark and the UK in the second half of the year.
The adjusted pre-tax figure stripped out €13.2m in exceptional costs, mainly due to a review of the value of some assets.
The group said its strategy was to expand through medium and large-scale acquisitions, and its stock exchange listing meant it had the resources to do this. Its ambition is to double turnover over the next five years.
Total Produce said trading this year was in line with expectations. It is targeting earnings growth in the 'mid-single digit ' percentage range.
