Fresh produce provider Total Produce has said that while it is still too early to predict the full effects of Covid-19, it is continuing to trade satisfactorily considering the challenging economic environment.
In a trading update, Total Produce said it recognises its vital role in continuing to supply essential foodstuffs in response to the pandemic.
"Due to the dedication, commitment and hard work of our people, the group's supply chains are functioning adequately and have remained open across all of its key markets," Total Produce said.
Although it has experienced a reduced level of demand from the foodservice sector, Total said that demand
from retailers has remained robust as consumer buying patterns shift.
It said it continues to monitor the situation and is taking appropriate measures to adapt to the changing market and to ensure that supply chains remain open.
The company said that given the unprecedented nature of the Covid-19 outbreak, it is not yet possible to determine its full impact on its results for the current financial year.
"However, the group expects satisfactory results in full year 2020, although earnings are now likely to be lower than in full year 2019," Total Produce said.
"Given the diverse structure of the group's business in terms of customers, products and locations, the board believes that Total Produce is well positioned to respond to the current global challenges," it added.
Total Produce also said it has decided to postpone its AGM which was due to be held on May 15 to August 28 in line with with the current Government guidelines on the holding of meetings.
