Irish fruit distributor Total Produce remains on the lookout for more acquisitions on the back of stronger-than-expected annual earnings.

At a time when high quality bond yields are collapsing to zero, the value and importance of dividends from equities has never been more important.

Last week we hosted an Investor Day to showcase 9th Irish Food and Agri-companies to existing and potential shareholders.

Fruit distributor Total Produce has raised its earnings target for this year and has said it is actively hunting more acquisitions.

The debate over whether the UK will exit the EU has switched dramatically to the potential gains for some Irish shareholders and most Irish exporters should the so-called ‘Bremain’ side win the looming UK vote on EU membership on June 23.

Investors in the Irish stock market should favour Irish firms that have less exposure to the UK — until the outcome of the British referendum on membership of the EU is known, Merrion Capital has said in a major report.

Amid the myriad of events surrounding the 1916 Rising a narrative has developed about the key drivers of change in Irish society. That, understandably, has focused on the role of culture, labour, sport and women as agents of change behind the formation of the Irish Republic 100 years ago.

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.

Total Produce has pushed its potential revenue contribution from North America up to around $1bn (€916,000) on foot of a new acquisition.

John Daly takes us through the highlights form the second half of the business year.

Dublin-based international fruit distribution business, Total Produce has reported an 8.2% year-on-year rise in revenue for the first half of the year, to €1.43bn.

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

Total Produce positive as revenue and pre-tax profits dip

Dublin-based fruit and vegetable distributor, Total Produce, has enhanced its North American footprint by acquiring a 50% share in Canadian fresh produce company, Gambles Group.

Total Produce has warned that Russia’s 12-month ban on EU-sourced fruit and vegetables may impact prices, due to a resulting excess of supply, but stressed that sanctions should not materially affect its full-year results.

Total Produce is considering further acquisitions in both Europe and North America to expand the company and remains on track to meet its stated earnings targets for this year.

Fruit distributor Total Produce is targeting adjusted earnings per share of between 8.40c and 9.40c for 2014, having beaten forecasts with its 2013 results.

Last week the Government moved to incentivise growth companies to use Dublin as a platform for expansion through equity finance.

Total Produce — the Dublin-headquartered international fruit and vegetable distribution company — has upped its full-year growth outlook on the back of a strong set of first-half financial results.

Fruit and vegetable distribution company Total Produce has reached agreement to sell its 25.3% stake in South African fruit supplier Capespan for €22m.

Fyffes has generated revenues of over €1bn for the first time in six years.

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.

Dublin-based fruit retailer Total Produce has agreed to buy up to 65% of Canada’s Grandview Ventures over four years for €32m.

The Iseq continued the trend set from the previous week by finishing yesterday’s session in negative territory. The benchmark index of Irish shares declined by 14.7 points to 3,313 on the day.

The Golden Wonder will be the most popular potato for Christmas, according to SuperValu.

Total Produce’s interim results showed a 5% increase in total revenues but profits before tax were down 6% to €20.4m.

World stocks edged higher yesterday after data showed the US services sector grew at a slightly faster pace in May, but the Iseq fell nearly 2% as the eurozone crisis escalated, with Spain saying it was being shut out of credit markets.

Dublin stockbroker Davy has placed a “very attractive” rating on the stock of Total Produce, after it issued an interim statement reaffirming its guidance for 2012.

The four executive directors of Total Produce shared in a pay package of €3.2m which included salaries, bonuses, and share options.

Food and drink companies that are based in Ireland and are quoted on the stock exchange have a combined valuation of €13bn.

The Irish market gained 29.34 points to close the week at 3,266.85 yesterday, mirroring trends seen on most major bourses.

Total Produce has announced that it has received regulatory clearance to buy 50% of fresh produce company Frankort & Koning Beheer Venlo BV.

TOTAL Produce has increased its stake in the South African division of international fruit exporter, Capespan, in a €13 million deal.

THE Dublin-based fruit distribution company, Total Produce, is to spend up to €15 million on a 50% shareholding in the Dutch produce company Frankort & Koning.

The fresh produce company, Total Produce, has announced that it has entered an agreement to buy 50% of Frankort & Koning Beheer Venlo B.V. and subsidiaries for up to €15m.

EUROPEAN markets were down yesterday, with investors jittery ahead of today’s EU summit meeting in Brussels — the second in four days — amid concerns that leaders may struggle to find a solution to the eurozone debt crisis.

EUROPEAN markets were down yesterday as Germany said that a G20 ultimatum for a concrete solution to the eurozone debt crisis to be in place by early next week was unrealistic.

TOTAL Produce has said it will continue to hunt out investment opportunities, even after an underwhelming performance in the first half of the year.

FRUIT distributor, Total Produce has reiterated its full-year earnings per share guidance of between 6.5c and 7.5c, for 2011.

Food company Total Produce has said that its earnings per share forecast in the range of 6.5 cent to 7.5 cent remains unchanged.

FRUIT distribution company Total Produce has reported a strong set of full-year results for 2010 — including an 18% increase in pre-tax profits and a 7% rise in revenue — and has upped its earnings guidance for 2011.