Total Produce raised its earnings forecast for 2007 after recording a 10.5 per cent rise in its first-half pre-tax profits that were boosted by its acquisitions.
"While the unusually poor summer weather across northern Europe has reduced demand for some of our produce, trading since the period end has been in line with our expectations," chairman Carl McCann said in a statement.
The company said it has raised its earnings-per-share growth target for the year from mid to high single digits, taking into account its better-than-expected first-half performance.
Its pre-tax profit rose to €19.4 million from €17.6 million, helped by revenues that grew 33 per cent to €1.22 billion, reflecting the company's acquisition of Redbridge Holdings Ltd and the remaining 50 per cent of Lembcke last September.
Total Produce announced an interim dividend 0.5 cents a share. Total Produce is a fruit and vegetable distributor spun off from Fyffes last year.
