Global fruit and vegetable distributor Total Produce has reported profit before tax for the first six months of €41.8 million, an increase of 7% on the previous year.
Revenue at the company was almost 2% higher at €2.2 billion.
The group recently completed the acquisition of a 45% stake in the Dole Food Company for $300 million. On February 1, 2018, 63 million ordinary shares were issued raising $180 million to finance the Dole transaction. The transaction was completed on 31 July 2018 having received regulatory approvals.
Carl McCann, Total Produce chairman, said, "The 2019 financial year will be the first full year reflecting the scale of this transformative transaction. The conclusion of the Dole transaction represents a very significant development in the Group’s successful expansion strategy."
He said an interim dividend of 0.9129 cent per share will be paid on October 12, 2018 representing a 2.5%increase on last year.
