Revenues jump 10.4% to €3.45bn at Total Produce

Shares in Dublin-based fruit distribution company Total Produce rose by nearly 3% yesterday on the back of a strong set of annual figures and the company targeting strong earnings growth for this year.

The former general produce arm of Fyffes reported revenues of €3.45bn for 2015, up 10.4% on the previous year. Pre-tax profits were up by 5.6% at €46.8m.

The strong performance was aided by the firm’s continued expansion into the North American market during the year, which continued post year-end with the purchase of a 65% stake in LA-based Progressive Produce. Total dividend was up by 15% at 2.76c per share.