Despite coronavirus challenges, Total Produce reports 'satisfactory' start

Despite coronavirus challenges, Total Produce reports ‘satisfactory’ start

Produce Business reports

Ireland-based multinational Total Produce says that trading in the first half of the year has been “satisfactory” despite numerous challenges related to the Covid-19 pandemic.

Total Produce, which in 2018 purchased a 45% stake in Dole, gave the announcement in a business update for the six months that ended June 30.

“The Group’s strong presence in the global fresh produce industry, the diversity of its operations and products together with the exceptional response from our people have enabled us to meet the challenges,” it said. “The Group expects satisfactory results for FY20, subject to the uncertainties arising from the ongoing Covid-19 pandemic.”

The company added: “Total Produce is in a strong financial position and continues to focus on the growth and expansion of the business.”

In March the company reported a stellar financial year for 2019, with total revenue growing by 22% to €6.2bn (US$7bn), and adjusted profit before tax rising by 28% to €98.3m (US$110m).

Later that month, Total Produce said it was “well-positioned” to respond to challenges stemming from the pandemic, but said it expects lower financial results than last year.



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