Pre-tax profits at Total Produce fall 10%

FRUIT distributor Total Produce, which was spun out from Fyffes some time ago, has seen its profits before tax fall 10% in 2008 to e29.8 million, from the e33.2m reported in 2007.

Due to the hostile global environment, the group is cautious about prospects for the current year, but chairman Carl McCann is confident about the 2009 outlook.

In 2008, closure costs relating to the decommissioning of a plant in Ireland and a number of stores in Britain were the main reason for the profit reversal, the group said.