Ireland-based Total Produce saw a dramatic rise in operating profit of 73.5% in 2007 due to contributions from acquisitions during 2007.
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The company saw an operating profit of EUR37.7m (US$57.4m) in 2007 compared to EUR21.7m in 2006. Sales jumped 30.6% to EUR2.4m.
The majority of the increase was in the general produce division due to the acquisition of Redbridge Holdings in January 2007 and the contribution of bolt-on acquisitions during the year.
“We are pleased to have achieved very satisfactory results, which are ahead of expectation, in our first year since demerger,” said Carl McCann, chairman of Total Produce.
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