Fruit distributor reports slow trading

FRUIT and vegetable distributor Total Produce has reported a slow start to trading in the current year, on the back of a tough 2009 which showed a near 5% fall in profits to just under €28.4 million.

Before exceptional items were taken into account, pre-tax profit had amounted to €40.1m, which was down by 1.8%. Total revenues fell by 3.3% to €2.43 billion and adjusted earnings per share figure of 6.47c was down by over 4% on 2008’s total.

A final dividend of 1.15c per share has been proposed, meaning 2009’s total dividend remains unchanged at 1.69c a share.