IN BRIEF: Total Produce Lifts Dividend Ahead Of Dole Food Merger
Thu, 25th Feb 2021 15:01
Total Produce PLC - fresh produce provider - Reports very strong performance in 2020 in the context of the challenges posed by Covid-19 to the global economy. Says total revenue is up 1.7% to EUR6.26 billion. Pretax profit, however, slips 4.0% to EUR73.5 million amid exceptional items. Total Produce declared a 7.5% increase in 2020 final dividend to 2.770 cent per share, giving 3.6829 total dividend, up 5.5%.
On Wednesday last week, the company announced a binding deal with Dole Food Co Inc to combine under a newly created company, Dole PLC. It will be headquartered in Dublin, with its US headquarters in Charlotte, North Carolina. Dole PLC will be listed in New York and delisted from London and Euronext Dublin.
Fresh produce company Total Produce has reported higher revenues and adjusted profit before tax for the year to the end of December despite the "unprecedented challenges" posed by Covid-19 to the global economy.
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
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