Total Produce reiterates earnings guidance despite global trade uncertainties

Fresh produce company Total Produce kept its expectations for full-year earnings growth unchanged on Friday, despite noting competitive markets and more uncertainty surrounding international trade.

Following its July 2018 acquisition of a 45% stake in Dole Food, one of the largest fresh produce companies in the world, Total Produce revealed the newly added business was trading in line with expectations.

The AIM-listed group told investors it was in "a strong financial position", with the Dole acquisition representing "a very significant step" and a continuation of its "successful expansion strategy".

Total Produce also revealed that subject to shareholder approval, a final dividend of 2.5140 cents per share will be paid on 6 June, representing a 2.5% year-on-year increase.

As of 0825 BST, Total Produce shares had picked up 3.06% to 139.13p.