Total Produce said on Monday that trading for the Irish fruit and vegetable grouphas remained "positive" despite the Covid-19 pandemic,as it forecast full year results to be ahead of last year.
The group said that in the 10 months up to October 31st, trading was positive, with resilient sales in wholesale and retail, offsetting reduced demand from food service.
Total Produce said that it now expects sales, adjusted earnings (EBITDA) and ajusted earnings per share (EPS) are now expected to be “slightly ahead” of full year 2019.
In a statement, the company said that its “ strong presence in the global fresh produce industry, the diversity of its operations and products, together with the exceptional response from our people, enables us to meet the challenges”.
In a note, Davy Stockbrokers pointed to the group’s “resilient and stand-out performance” and said it would now increase its EPS forecast by about 4-5 per cent, and it reiterated its outperform rating on the stock.
