TOT.L Regulatory News (TOT)

Total Produce plc

Stock Exchange Announcement

Total Produce plc increases 2015 target

Total Produce plc, Europe's leading fresh produce company, is pleased to confirm that trading for the first four months has been satisfactory, and the Group is increasing its full year adjusted earnings per share target into the upper half of the previously announced range between 9.20 cent to 10.20 cent. 

Since the year end, the Group completed the acquisition of a 50% shareholding in the Gambles Group based in Toronto. Gambles was founded in 1989 and is one of Eastern Canada's premier fresh produce companies with 2014 sales of CAD$170m and employing over 280 staff, serving the retail, wholesale and food-service sectors. This is the fourth acquisition by Total Produce in North America since 2013.

The final dividend of 1.763 cent per share, a 6% increase on last year and subject to shareholder approval, will be paid on 22 May 2015.

Total Produce is in a strong financial position and continues to pursue attractive acquisition opportunities to further expand the Group. The Group will also purchase Total Produce shares in the market as appropriate, subject to the annual shareholder approval at its General Meeting today.

20 May 2015

For further information, please contact:

Brian Bell, 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.