29th Nov 2018 10:59
LONDON (Alliance News) - Irish fruits and vegetable producer Total Produce PLC on Thursday confirmed that it continues to target adjusted earnings before interest, taxation, depreciation and amortisation growth in the mid-single-digit range for 2018.
The adjusted Ebitda estimate excludes the contribution from Total Produce's 45% stake in American fruit grower Dole Food Co, which it purchased last year.
Total Product is targeting 2018 full-year adjusted earnings per share on a like-for-like basis in line with 2017, excluding Dole.
In 2017, Total Produce recorded adjusted Ebitda of EUR94.8 million and adjusted earnings per share of 12.07 cent.
"Fresh produce markets have experienced periods of shortage and periods of oversupply in 2018 caused by extended unusual weather conditions which impacted supply and demand and led to lower pricing," the company said.
For 2019, including the Dole stake, Total Produce is targeting an increase in the adjusted earnings per share in the mid-to-upper single-digit range over the 2018 adjusted earnings per share, which excludes Dole.
London-listed share in the company were untraded at 150p pence each on Thursday.
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