Total Produce profits up 3.8%

FRUIT and vegetable distribution company, Total Produce, has reported a 3.8% year-on-year rise in first half pre-tax profit to €25.3 million; with revenues up, by the same measure, by 1.7% at €1.33 billion.

The adjusted profit figure doesn’t allow for exceptional items and when these are taken into account the company’s pre-tax profits amounted to €21.7m for the first six months of the year, up from €20.9m for the same period last year.

Adjusted earnings per share (again, before exceptional items, amortisation and related tax was factored in) was up by 1.5%, year-on-year, at 4.12c. Adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) rose by 3% to €33.7m.