Ireland’s Total Produce has indicated it is on the look-out for further acquisition targets as it booked a jump in full-year sales and earnings in 2013, driven by the contribution of recent deals.
Total sales rose 13% to EUR3.2bn (US$4.4bn) in the year to the end of December, the company said in a regulatory filing today (4 March).
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Operating profit, excluding exceptional items, increased 12.1% to EUR46.9m in the period, while net profit climbed to EUR38.2m, up from EUR28.2m in the prior year period.
Chairman Carl McCann said gains were driven by M&A. “The group’s growth is primarily driven by successful acquisitions completed in recent years including the investment in Oppenheimer in North America,” he said.
Looking to the coming year, Total Produce indicated it “actively continues to pursue further investment opportunities”.
