Total Produce raises guidance

Total Produce has increased its full-year earnings guidance on the back of a good start to the year.

The Dublin-based international fruit distributor yesterday said it is now aiming for full-year adjusted earnings per share around the upper half of its previously announced range of between 9.20c-10.20c. Previously, management had guided for earnings of between 9.70c and 9.95c per share for this year.

“The increase of around 2.5% is due to a satisfactory first four months of trading. In spite of the ongoing Russian embargo of EU produce, the market has adjusted and certain categories have seen a recovery in pricing,” noted Declan Morrissey of Davy Stockbrokers.