Total has appetite for investment

Fruit distribution company Total Produce has said it will continue to pursue investment opportunities in 2013 on the back of a better-than-expected year which saw it sign off on €24m worth of acquisitions.

The Dublin-based company, the former general produce arm of Fyffes, which reports its figures later this week, yesterday produced a set of annual results of 2012 comfortably ahead of market expectations, with net revenues (including shares of joint ventures and associate businesses) up by over 11% to €2.8bn and up by 6.5% to €2.43bn without the additional business strands.

Adjusted pre-tax profits rose by over 19% to €47.3m, and adjusted earnings per share up 12% to 8.11c.