TOTAL PRODUCE MAINTAINS FULL YEAR GUIDANCE

  • Revenue (1) of €1.59 billion
  • Profit before tax up 5.7% to €24.2m
  • Adjusted earnings per share (1) up 0.4% to 4.86 cent
  • Adjusted EBITDA (1) down 2.7% to €38.1m
  • Adjusted EBITA (1) down 3.7% to €30.2m
  • Adjusted profit before tax (1) down 4.6% to €27.2m
  • Interim dividend increased by 5.0% to 0.64 cent per share

(1) Key performance indicators are defined overleaf

Commenting on the results, Carl McCann, Chairman, said:

"Total Produce has recorded a robust performance in the first half of 2014 when measured against a particularly strong comparative period in 2013. The Group continued to record volume growth in 2014 although average prices decreased in the period. We are pleased to report a marginal increase in adjusted earnings to 4.86 cent per share.

The Group's growth will continue to be driven by successful acquisitions. Total Produce has recently agreed to acquire the final 50% of All Seasons Fruit in The Netherlands and continues its expansion in North America with the acquisition of a 45% interest in Eco Farms in California, USA.

We are pleased to announce a 5% increase in the interim dividend to 0.64 cent. The Group is maintaining its full year adjusted earnings per share guidance of 8.40 to 9.40 cent per share."

2 September 2014

For further information, please contact:

Sheila Gahan, Wilson Hartnell PR - Tel: +353-1-669-0030, Mobile: +353-87-234 2409

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