Fruit and vegetable producer Total Produce (TOT) looks to have started the new financial year in good form. The company announced last week that it's on track to achieve its target of adjusted EPS of between 8.40¢ and 9.40¢ for the full year to December 2013.
IC TIP:
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Management also said the group was actively pursuing acquisition opportunities to expand the business across Europe and North America. Total has spent roughly €25m a year on acquisitions over the past seven years. Given the lower debt profile, analysts at Goodbody think a more realistic target would be €50m a year over the next five years. This, they say, would lift the annual EPS growth to 11 per cent.