25 February 2021 | 09:31am
StockMarketWire.com - Total Produce has announced a 1.7% rise in its total revenue to €6.259 billion which it claims to be very strong in the context of the unprecedented challenges posed by COVID-19 to the global economy .
The group s adjusted EBITDA was up 8.2% to €219.4m and adjusted pre-tax profit was up 18% to €116.0m.
It has also confirmed a 7.5% increase in the 2020 final dividend to 2.770 cent.
Carl McCann, chairman of Total Produce, said: These strong results demonstrate the robustness of the group s business model in the face of the unprecedented challenges posed by the ongoing COVID-19 pandemic.
On February 17, 2021, the group announced a binding deal with Dole Food Company Inc to combine under a newly created US listed company, Dole plc, which will be the number one player in fresh produce with estimated combined revenues of almost US$10 billion, adjusted EBITDA of approximately US$379 million and total assets of approximately
17 February 2021 | 07:54am
StockMarketWire.com - Fresh produce supplier Total Produce said it had agreed to be acquired by Dole Food Company in a share-based transaction that would create an entity with combined assets worth $4.5 billion.
The deal would see Total Produce shares exchanged for shares in Dole at a fixed exchange ratio, whereby Total Produce shareholders would receive 82.5% of the combined entity, to be named Dole.
Affiliates of Castle & Cooke, which own a 55% interest in Dole s parent company, would receive 17.5% of Dole shares.
Dole would be the global number one in fresh produce, Total Produce said, with estimated combined 2020 revenue of about $9.7 billion and adjusted operating earnings of about $379 million.
17 February 2021 | 12:02pm
StockMarketWire.com - The FTSE 100 dipped 0.14% to 6,739.27 on Wednesday as a higher-than-expected reading of UK inflation stoked some fears over rising prices.
In the US futures markets suggested a similarly tepid feel to trading on Wall Street, with retail sales data scheduled to be released.
British American Tobacco dropped 4% to £26.38, even as it reported a rise in annual profit, citing strength at its vaping business.
The tobacco giant upped its dividend 2.5% to 215.6, while guiding for 3-5% constant-currency revenue growth in 2021 and mid-single-digit percentage earnings growth reflecting continued Covid-19 impacts .
Fellow tobacco company Imperial Brands slipped 1.1% to £14.97 on announcing that chief financial officer Oliver Tant would stand down by no later than August.
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