Total Produce Plc AGM Statement (1656G)
May 25 2017 - 2:00AM
UK Regulatory
TIDMTOT
RNS Number : 1656G
Total Produce Plc
25 May 2017
Total Produce plc
Stock Exchange Announcement
Total Produce plc raises 2017 earnings target
Total Produce plc, the leading international fresh produce
company, is pleased to confirm that trading for the first four
months has been satisfactory, and the Group is raising its full
year adjusted earnings per share target into the upper half of the
previously announced 12.0 cent to 13.0 cent range.
As previously announced on 2 March 2017, the Group purchased a
further 30% of the Oppenheimer Group ('Oppy') for a consideration
of EUR28.4 million (CAD$39.5 million). In addition to the initial
35% acquired in 2013, this brings Total Produce's shareholding in
Oppy to 65% after a total investment of EUR43.4 million (CAD$60.6
million). Headquartered in Vancouver, Canada and with sales of
almost CAD$1 billion (EUR720 million), Oppy operates from a network
of locations throughout North America providing premium quality
fresh fruit and vegetables on a year round basis.
Subject to shareholder approval, a final dividend of 2.2297 cent
per share will be paid on 26 May 2017 representing a 10% increase
on last year.
Total Produce is in a strong financial position and continues to
pursue attractive acquisition opportunities to further expand the
Group.
25 May 2017
For further information, please contact:
Brian Bell, Wilson Hartnell PR
Tel: +353-1-669 0030
Ivan Murphy, Davy Corporate Finance
Tel: +353-1-679 6363
Any forward-looking statements made in this press release have
been made in good faith based on the information available as of
the date of the press release and are not guarantees of future
performance. Actual results or developments may differ materially
from the expectations expressed or implied in this press release,
and the Company undertakes no obligation to update any such
statements whether as a result of new information, future events,
or otherwise. Total Produce's Annual Report contains and identifies
important factors that could cause these developments or the
Company's actual results to differ materially from those expressed
or implied in these forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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May 25, 2017 02:00 ET (06:00 GMT)
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