Fruit and vegetable distributor Total Produce has reported a 7% increase in revenues for the year ending December 2010.
The company's pre-tax profits rose to €33.6m for the year from €28.4m the same time last year - up 18.4%.
Total said its results reflect the strength and broad base of its operations against a background of tougher economic conditions in certain locations.
The company said it is targeting 2011 adjusted earnings per share in the range of 6.5 cent to 7.5 cent. 'It has a strong financial position and continues to actively pursue acquisition opportunities,' the company's chairman Carl McCann said.
The company says its total dividend for the year is 1.783 cent per share, up 5.5% on the previous year.
Total Produce said its fresh produce division saw a good performance for the year, helped by a strong second half which made up for the slow start in the first six months of 2010. Revenues rose by 8.2% to €2.52 billion, boosted by the strength of the Swedish krona and sterling.
But revenue at its consumer goods and healthfoods distribution division fell by 23% to €82m. The company said this reflected the continued difficult trading conditions in this sector.
During the year, Total Produce invested €2.9m in a number of new businesses, including companies in Spain, Ireland and the UK. It said it actively continues to pursue acquisition opportunities in both new and existing markets.
