Total Produce reaffirms its guidance

Fresh food company Total Produce this morning reaffirmed its guidance for 2012, indicating that its earnings per share (EPS) estimate is still on target.

In an announcement to the Irish Stock Exchange, ahead of its annual general meeting, the company said that its previously announced target adjusted EPS in the range of 7.00 cent to 8.00 cent remains unchanged.
In its statement it also declared that it "continues to pursue attractive acquisition opportunities to further expand the group".

NCB Stockbrokers noted that the announcement was "encouraging", adding that the group has about a €90 million "capacity for further acquisitions".

Since the year end, Total Produce has concluded a number of transactions, including increasing its interests in countries such as South Africa and Ireland, as well as the Netherlands, through its acquisition of half of Dutch company Frankort & Koning Beheer Venlo and its subsidiaries.