Fresh food provider Total Produce saw virtually no change in its half year results with revenue and pre-tax profit remaining stable.

Revenues rose just 1% from €1.2m to €1.21m resulting in no movement for the pre-tax profit, which remained at £21.7m.

Chairman Carl McCann, said: "Total Produce has delivered a solid performance for the first half of 2011 with an increase of 2% in adjusted earnings per share to 4.20 cent per share despite the temporarily difficult trading conditions in certain markets within Continental Europe.

"We are also pleased to report that Total Produce has concluded a number of bolt-on acquisitions since the end of the half year for a total investment of €14m."

Based on current trading conditions the group continues to target adjusted earnings per share in the range of 6.5 cent to 7.5 cents per share for the full year. The group continues to actively pursue further investment opportunities in both new and existing markets, the company added.

The group's cash flow for the twelve months ending 30 June totalled to €29m.

Reflecting the pattern of the results, the board has decided to retain the same level of dividend at 0.54 cent per share.

The share price was down 1.47% to 33.5p at 14:58.

NR

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