Total Produce Plc Trading Statement (7550P)
31 May 2018 - 4:00PM
UK Regulatory
TIDMTOT
RNS Number : 7550P
Total Produce Plc
31 May 2018
Total Produce plc
Stock Exchange Announcement
Total Produce plc targeting continued growth in 2018
Total Produce, the leading international fresh produce company
is pleased to confirm that the Group is targeting continued growth
for 2018 on a like-for-like basis and excluding the impact of the
Dole transaction. The Group's full year growth expectations are
unchanged. The first half-year growth will be limited due to the
unusual weather and currency movements in the period.
As previously announced on 1(st) February 2018, the Group
entered into a binding agreement to acquire a 45% stake in Dole
Food Company for $300m. Dole is one of the largest fresh produce
companies in the world. The deal is subject to regulatory approval
and is expected to close in the second half of 2018.
On 1(st) February, 63m new ordinary shares were issued raising
$180m to finance the Dole transaction. The 2019 financial year will
be the first full year reflecting the scale of this transformative
transaction.
Subject to shareholder approval, a final dividend of 2.4527 cent
per share will be paid on 1(st) June 2018 representing a 10%
increase on last year.
Total Produce is in a strong financial position and the Dole
transaction represents a very significant step and a continuation
of the Group's successful expansion strategy.
31 May 2018
For further information, please contact:
Peter O'Brien, Wilson Hartnell PR
Tel: +353-1-669 0030
Ivan Murphy, Davy Corporate Finance
Tel: +353-1-679 6363
Any forward-looking statements made in this press release have
been made in good faith based on the information available as of
the date of the press release and are not guarantees of future
performance. Actual results or developments may differ materially
from the expectations expressed or implied in this press release,
and the Company undertakes no obligation to update any such
statements whether as a result of new information, future events,
or otherwise. Total Produce's Annual Report contains and identifies
important factors that could cause these developments or the
Company's actual results to differ materially from those expressed
or implied in these forward-looking statements.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTLLFLDELIIVIT
(END) Dow Jones Newswires
May 31, 2018 02:00 ET (06:00 GMT)
Total Produce (LSE:TOT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Total Produce (LSE:TOT)
Historical Stock Chart
From Jul 2023 to Jul 2024