DOCSLIB.ORG

Annual Report and Accounts 2019 Total Produce Is at the Forefront of the Global Fresh Produce Industry

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report and Accounts 2019 Total Produce Is at the Forefront of the Global Fresh Produce Industry Annual Report and Accounts 2019 Total Produce is at the forefront of the global fresh produce industry. Operating primarily across Europe, North America and South America, Total Produce is involved in the growing, sourcing, importing, packaging, marketing and distribution of an extensive selection of fresh fruits, vegetables and flowers – ranging from the familiar to the truly exotic. Financial Highlights Revenue 1 Adjusted EBITDA 1 €6,173m €202.8m +22.4% on prior year +52.1% on prior year Adjusted EBITA 1 Shareholders’ Equity €150.1m €451.1m +53.1% on prior year +4.2% on prior year Adjusted EPS 1 Adjusted EPS (Pre-leasing) 1 14.12 cent 14.86 cent +34.3% on prior year +41.4% on prior year Dividend per Share (Total) 3.4899 cent +1.8% on prior year 1 Key performance indicators are defined on pages 181 to 185. 1. Strategic Report 2. 3. Strategic Report Where We Operate 2 History and Growth 4 Chairman’s Statement 6 Our Strategy and Business Model 8 Our Supply Chain and Product Portfolio 10 Financial Growth 12 Risks and Risk Management 14 Sustainability 20 Chief Executive’s Review 46 Financial Review 50 Governance Board of Directors and Secretary 58 Directors’ Report 60 Corporate Governance Report 63 Audit Committee Report 70 Compensation Committee Report 73 Nomination Committee Report 79 Financial Statements Statement of Directors’ Responsibilities 81 Independent Auditor’s Report 82 Group Income Statement 87 Group Statement of Comprehensive Income 88 Group Balance Sheet 89 Group Statement of Changes in Equity 90 Group Statement of Cash Flows 92 Group Reconciliation of Net Debt 93 Notes to the Group Financial Statements 94 Company Balance Sheet 175 Company Statement of Changes in Equity 176 Company Statement of Cash Flows 177 Notes to the Company Financial Statements 178 Glossary: Alternative Performance Measures 181 Directors and Other Information 186 Shareholder Information 187 Find out more on totalproduce.com 1 Total Produce plc Annual Report and Accounts 2019 Where We Operate Our Global Footprint 36 Number of facilities in North America Total Produce is the world’s premier fresh produce provider. Local at heart, 58 Number of facilities global by nature, our operations in Central America extend across 30 countries, while serving many more. Our international reach brings flexibility to our supply chain, synergies and efficiencies to our operations, broadens our core 35 Number of facilities competencies and capacities and in South America enriches cultural diversity within our organisation. For our customers, our physical presence across the world differentiates Total Produce, positioning our operations at the very heart of the markets in which we trade and in the world’s primary production centres. Serving the wholesale, foodservice and retail sectors, Total Produce is a complete fresh produce solution provider – offering a comprehensive range of services to our customers ranging from simple service provision to complete category management. 2 Total Produce plc Annual Report and Accounts 2019 1. Strategic Report 2. 3. 112 Number of facilities in Europe 9 Number of facilities in Rest of the world The map above is a representative depiction only and also does not include Dole farming interests. 3 Total Produce plc Annual Report and Accounts 2019 History and Growth An Evolving Business Over a century and a half of trading, Total Produce has evolved into one of the world’s premier fresh produce providers extending our reach, broadening our offering and delivering to consumers the cream of the crop from close to home and across the globe. 2012 2013 2007 2008 1850 4 Total Produce plc Annual Report and Accounts 2019 1. Strategic Report 2. 3. 2018 2016 2014 2017 2015 5 Total Produce plc Annual Report and Accounts 2019 Chairman’s Statement Continued Growth in 2019 We are pleased to report that the Group has continued to grow in 2019, recording a 22.4% growth in revenue and 41.4% growth in adjusted earnings per share primarily due to the investment in Dole.” Strategic developments positions in various produce categories, counterparts on targeted synergy projects In 2019, we continued to make progress creating a combined group with increased aimed at generating benefits for both parties. in advancing our strategic goals. scale, geographic and product diversification. It represents a very significant step for the Other developments The Group completed the acquisition of the Group and a continuation of its successful During the year, the Group made some initial tranche of 45% of Dole Food Company expansion strategy. bolt-on investments in the fresh produce (‘Dole’) on 1 July 2018. The 2019 financial sector in Europe, as well as investments in year is therefore the first full year to reflect The performance in 2019 year has been existing joint ventures with total investment this transaction. Further details on the positive for the Group. In 2019, there has of €10m including deferred and contingent transaction structure are outlined on pages been a strong increase in the adjusted consideration payable on the achievement 127 to 131 in Note 15 of the accompanying EBITDA in Dole led by a recovery in of future profit targets. Financial Statements. the Fresh Vegetable division. Dole also completed the sale of its Scandinavian Further examples of our strategic priorities Dole is one of the world’s leading fresh salad business in 2019. being implemented during the year are in produce companies, with an iconic brand included in Our Strategy and Business and leading market positions and scale. In 2019, the Executive Directors, and senior Model section on pages 8 and 9. The transaction brings together two industry and divisional management of the Group leaders, with complementary market have worked closely with their Dole 6 Total Produce plc Annual Report and Accounts 2019 1. Strategic Report 2. 3. Summary of financial The SSWG has developed its sustainability Following these changes, the Board will be performance in 2019 agenda for 2020 and the Board will be made up of six independent Non-Executive Total Produce reported strong results in updated on its progress at each directors and three Executive Directors. 2019. The reported results for year ended scheduled meeting. 31 December 2019 include the Group’s 45% Brexit and international trade share of Dole for the full year, whilst 2018 Corporate Governance The result of the UK’s exit from the European included the five months of Dole from the The Board is committed to integrity, high Union (‘Brexit’) on 31 January 2020 and its date of the deal completed 1 August 2018 ethical values and professionalism in all impact in terms of the exit deal, including to 29 December 2018. of its activities and operations. The Board tariffs and trade agreements remain unclear. recognises the importance of maintaining Brexit committees set up in relevant areas Total revenue in 2019 grew 22.4% to the highest standards of corporate of the business continue to assess and €6,173m (2018: €5,043m), adjusted EBITDA governance and that it is accountable to its prepare for the risks and opportunities increased by 52.1% to €202.8m (2018: shareholders in this regard. The Board has that may arise. €133.3m) with adjusted EBITA increasing adopted the Quoted Companies Alliance 53.1% to €150.1m (2018: €98.0m). Adjusted (QCA) Corporate Governance Code, issued With continuing uncertainty surrounding earnings per share (pre-IFRS 16 Leases) of in April 2018. Full details of our approach global trade, the impact of any tariffs 14.86 (2018: 10.51 cent) was 41.4% ahead to governance are set out in the Corporate on international trade will continue to of prior year. The increase on the prior year Governance Report on pages 63 to 69. be monitored by the Group. was mainly due to the incremental impact of the acquisition of Dole and a good recovery Board changes COVID-19 outbreak in the Fresh Vegetable division in Dole. The Board values the benefits of diversity The Group continues to monitor COVID-19. and the Nomination Committee considers While it is too early to form a definitive view, Sustainability the benefits of diversity to complement the with a broad spread of resources and Environmental, Social range and balance of skills, knowledge and operations, the Group does not expect and Governance (ESG) experience. During the year, as part of a any disruption to be material. As sustainability becomes increasingly planned transition to provide orderly Board important to all of us, we continue refreshment and succession, the Board Dividend to recognise, as a global Group, our appointed the following two new The Board is recommending a final dividend responsibilities in relation to environmental independent Non-Executive Directors: of 2.5770 cent per share, representing a and social issues. Sustainability has always • Imelda Hurley, a finance professional with 2.5% increase on 2018. This, together with been central to our Group’s strategy and significant international and agri-industry the interim dividend of 0.9129 cent per business model, with Sustainable Business experience; and share, brings the total 2019 dividend to Practices, The People Behind our Produce • Helen Nolan, a highly experienced 3.4899 cent per share, an increase of 1.8% and Responsible Fiscal Oversight being financial executive with the Bank of Ireland on 2018. This represents a distribution of three of our core strategic priorities (see where she was also Group Secretary. almost 25% on the reported adjusted fully page 8 for more detail). We are committed diluted earnings per share. to building a better business in a responsible We wish to acknowledge and pay tribute to and sustainable way for all of our Frank Gernon and Jerome Kennedy who Our people stakeholders. have advised the Board that they will retire as The Group’s success reflects the superb Directors on 31 March 2020.
Load more

Recommended publications
  • Investment for Growth for Investment
    Total Produce plc Total Annual Report and Accounts 2012 Investment for Growth Total Produce plc Annual Report & Accounts 2012 A Strong & Sustainable Business 2012 A Year of Global Growth Read about Frankort & Koning, our entry into the Read Capespan, Oppenheimer North American about our market new European In 2012 we continued to Pages 24 partnership on expand our global footprint and 25 Pages 14 and 15 Read about our South African investment Pages 18 and 19 Strategy Our Produce: Page 6 Strategy: Page 4 Total Produce 1 Annual Report 2012 We are Europe’s leading fresh produce provider involved in the growing, sourcing, importing, STRONG & packaging, marketing and distribution of hundreds SUSTAINABLE of lines of fresh fruits, vegetables and flowers. Overview Investment Investment: Page 8 Supply Chain: Page 2 Contents Overview Our Business 2 Strategy 4 Our Produce 6 Investment 8 Financial Summary (2006-2012) 10 Growth 12 Business Review Partner Profiles: Page 14 Highlights: Page 3 Partner Profile – Frankort & Koning 14 Chairman’s Statement 16 Partner Profile – Capespan 18 Operating Review 20 Partner Profile – Oppenheimer 24 Finance Review 26 Corporate Social Responsibility 33 Financial Statements Board of Directors and Secretary 34 Directors and Other Information 36 Directors’ Report 37 Corporate Governance Report 40 Audit Committee Report 44 Compensation Committee Report 45 Statement of Directors’ Responsibilities 50 Independent Auditor’s Report 51 Growth Financial Statements 52 Notice of Annual General Meeting 117 Growth: Page 12 Total Produce plc Annual Report and Accounts 2012 2 Our Business Our Supply Chain In a global industry, the route to market is all important.
    [Show full text]
  • Origin-Annual-Report-2020.Pdf
    Strength throughAnnual Report and Accounts 2020 challenging times. INNOVATE COLLABORATE SUSTAIN OUR VISION To be the leading and trusted partner of choice to the farmers, growers and amenity professionals we serve. OUR PURPOSE Optimising sustainable agriculture and food production through innovation, research & development and agronomic expertise. LOCAL 320 EXPERTISE Strong Operational Team Agrii UK employs approximately 320 operational staff during the peak of the season to successfully support >2,600 its customers People Employed in 7 Countries + See Agrii UK Case Study on page 33 103 €64.3m Distribution of free cash fl ow Centres demonstrating strong cash generation + More on pages 35 >30 GLOBAL Farms attended daily by each of our UK delivery drivers at peak season COLLABORATION + More on pages 33 320 Strong Operational Team Agrii UK employs approximately 320 operational staff during the peak of the season to successfully support its customers + See Agrii UK Case Study on page 33 103 €64.3m Distribution of free cash fl ow Centres demonstrating strong cash generation GLOBAL COLLABORATION CONTENTS Strategic Report Governance Financial Statements At a Glance 6 Board of Directors 74 Directors and Other Information 114 Our Segments 7 Directors’ Report 76 Statement of Directors’ Chairman’s Statement 8 Chairman’s Overview 79 Responsibilities 115 Chief Executive’s Review 10 Corporate Governance Statement 81 Independent Auditors’ Report 116 Financial Review 12 Nomination and Corporate Consolidated Income Statement 124 Alternative Performance
    [Show full text]
  • 2018 Annual Report and Form 20-F
    Overview Strategy Review Business Performance Governance Financial Statements Supplementary 20-F Disclosures Shareholder Information Index 2018 Annual Report and Form 20-F Overview Strategy Review Business Performance Governance Financial Statements Supplementary 20-F Disclosures Shareholder Information Index CRH Annual Report and Form 20-F I 2018 CRH Annual Report and Form 20-F I 2018 Contents 2018 How our Performance Overview Business Performance Financial Statements Our Global Business in 2018 ....................2 Business Overview .................................26 Independent Auditor’s Reports .............112 Why Invest in Us .......................................4 Finance Director’s Review .......................27 Consolidated Financial Statements .......123 Highlights Chairman’s Introduction ............................5 Segmental Reviews ................................32 Accounting Policies ..............................128 Notes on Consolidated Strategy Review Governance Financial Statements ............................139 €26.8bn Chief Executive’s Review ..........................8 Board of Directors ..................................54 global Sales €25.2bn Strategy ..................................................10 Corporate Governance Report ...............58 Supplementary 20-F Disclosures ......214 Business Model ......................................12 Directors’ Remuneration Report..............68 Shareholder Information ....................238 Measuring Performance ..........................14 Directors’ Report
    [Show full text]
  • Applications Granted
    DATE : 21/09/2011 KILKENNY COUNTY COUNCIL TIME : 15:40:28 PAGE : 1 P L A N N I N G A P P L I C A T I O N S PLANNING APPLICATIONS GRANTED FROM 11/09/2011 TO 17/09/2011 in deciding a planning application the planning authority, in accordance with section 34(3) of the Act, has had regard to submissions or observations recieved in accordance with these Regulations; that it is the responsibility of any person wishing to use the personal data on planning applications and decisions lists for direct marketing purposes to be satisfied that they may do so legitimately under the requirements of the Data Protection Acts 1988 and 2003 taking into account of the preferences outlined by applicants in their application FILE APP. DATE M.O. M.O. NUMBER APPLICANTS NAME TYPE RECEIVED DEVELOPMENT DESCRIPTION AND LOCATION DATE NUMBER 10/718 The Aspect Hotel Kilkenny c/o R 23/12/2010 RETENTION PERMISSION for a new bored well to 16/09/2011 420 Clement Gleeson GM on behalf of supplement existing public supply and all associated site the Dirs of PREM Group works the townlands of Springhill and Smithland South Co. Kilkenny 11/189 Stephen & Jean Calnan P 18/04/2011 to construct (1) A single storey extension to the side and 12/09/2011 411 rear (2) A first floor extension over the living area, along with all associated works to an existing bungalow Ballytarsney Mooncoin Co. Kilkenny 11/275 Michael E. Walsh P 02/06/2011 to erect dwellinghouse and all associated works 16/09/2011 419 Ballyhomuck Bigwood Mullinavat Co.
    [Show full text]
  • 2015-Annual-Report-Glanbia.Pdf
    Glanbia plc Annual Report and Accounts 2015 DELIVERING BETTER NUTRITION FOR EVERY STEP OF LIFE’S JOURNEY Glanbia plc Annual Report and Accounts 2015 HIGHLIGHTS OF 2015 Another year of DOUBLE DIGIT GROWTH Forward-Looking Statements We are pleased to report a sixth consecutive year Glanbia plc (‘the Group’) has made forward-looking of double digit growth. We achieved a reported statements in this Annual Report that are based on management’s beliefs and assumptions and growth of 29.4% in adjusted earnings per share on information currently available to management. Forward-looking statements include, but are not (10.6% increase constant currency). We also achieved limited to, information concerning the Group’s possible or assumed future results of operations, a 29.9% increase in EBITA (10.5% constant currency) business strategies, financing plans, competitive with margin expansion of 160bps (130bps constant position, potential growth opportunities, potential operating performance improvements, the effects currency) and strong operating cashflow of €281.4 of competition and the effects of future legislation or regulations. Forward-looking statements include million. We are increasing our dividend by 10% to all statements that are not historical facts and can be identified by the use of forward-looking 12.1 cent per share. The outlook is positive and terminology such as the words ‘believe,’ ‘develop,’ we are guiding 8% to 10% growth in adjusted ‘ensure,’ ‘arrive,’ ‘achieve,’ ‘anticipate,’ ‘maintain,’ ‘grow,’ ‘aim,’ ‘deliver,’ ‘sustain,’ ‘should’ or the earnings per share, constant currency, for 2016. negative of these terms or similar expressions. Forward-looking statements involve risks, uncertainties and assumptions.
    [Show full text]
  • CDP Ireland Climate Change Report 2015
    1 CDP Ireland climate change report 2015 Irish Companies Demonstrating Leadership on Climate Change ‘On behalf of 822 investors with assets of US$95 trillion’ Programme Sponsors Report Sponsor Ireland partner to CDP and report writer 2 3 Contents 04 Foreword by Paul Dickinson Executive Chairman CDP 06 CDP Ireland Network 2015 Review by Brian O’ Kennedy 08 Commentary from SEAI 09 Commentary from EPA 10 Irish Emissions Reporting 12 Ireland Overview 14 CDP Ireland Network initiative 16 The Investor Impact 17 The Climate A List 2015 19 Investor Perspective 20 Investor signatories and members 22 Appendix I: Ireland responding companies 23 Appendix II: Global responding companies with operation in Ireland 27 CDP 2015 climate change scoring partners Important Notice The contents of this report may be used by anyone providing acknowledgement is given to CDP Worldwide (CDP). This does not represent a license to repackage or resell any of the data reported to CDP or the contributing authors and presented in this report. If you intend to repackage or resell any of the contents of this report, you need to obtain express permission from CDP before doing so. Clearstream Solutions, and CDP have prepared the data and analysis in this report based on responses to the CDP 2015 information request. No represen- tation or warranty (express or implied) is given by Clearstream Solutions or CDP as to the accuracy or completeness of the information and opinions contained in this report. You should not act upon the information contained in this publication without obtaining specific professional advice. To the extent permitted by law, Clearstream Solutions and CDP do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this report or for any decision based on it.
    [Show full text]
  • Glanbia Reports Improving Trends in Q3 2020
    THIRD QUARTER 2020 INTERIM MANAGEMENT STATEMENT Glanbia reports improving trends in Q3 2020 29 October 2020 – Glanbia plc, the global nutrition group (‘Glanbia’ or the ‘Group’), is issuing this Interim Management Statement for the nine month trading period ended 3 October 2020 (“Q3 YTD” or “first nine months of 2020”). Summary Improving trends in Q3 2020 while navigating the challenges resulting from the Covid-19 pandemic; Q3 YTD wholly owned revenues up 1.0% reported. On a like-for-like* basis up 3.1% versus prior year; Good performance from Glanbia Nutritionals (“GN”) maintaining growth trajectory, Q3 YTD like-for-like revenues up 10.9% versus prior year; Foodarom acquisition closed in the third quarter; Improving trends in Glanbia Performance Nutrition (“GPN”) in the third quarter. Q3 2020 like-for-like branded revenue down 2.3% versus Q3 2019 with positive pricing. Q3 2020 EBITA margin in double digits; GPN transformation programme on track and delivering margin improvements; Joint Ventures (“JVs”) continue to deliver a robust performance; Group is in a strong financial position, net debt at Q3 period end improved by €187.7 million versus the prior year with a net debt to EBITDA ratio of 1.95 times; Glanbia announces intention to launch a share buy-back programme of up to €50 million; and In Q4 2020, notwithstanding continued Covid-19 related uncertainty, Glanbia expects GN and JVs to continue to deliver a resilient earnings performance in addition to further sequential improvement in GPN. Commenting today, Siobhán Talbot, Group Managing Director said: “I would like to again acknowledge the tremendous efforts of all my Glanbia colleagues as well as our supplier and customer partners as we navigate the challenges of 2020.
    [Show full text]
  • Glanbia Plc 2009 Annual Report
    Glanbia plc 2009 Annual Report Glanbia plc Glanbia plc, Glanbia House, Tel +353 56 777 2200 Kilkenny, Ireland. Fax +353 56 777 2222 www.glanbia.com 2009 Annual Report Cautionary statement The 2009 Annual Report contains forward-looking statements. These statements have been made by the Directors in good faith, based on the information available to them up to the time of their approval of this report. Due to the inherent uncertainties, including both economic and business risk factors, underlying such forward- looking information, actual results may differ materially from those expressed or implied by these forward-looking statements. The Directors undertake no obligation to update any forward- looking statements contained in this report, whether as a result of new information, future events, or otherwise. Get more online www.glanbia.com Glanbia plc 2009 Annual Report Contents 1 Overview of Glanbia Introduction 2 Financial results 3 Glanbia at a glance 4 Directors’ report: Business review Chairman’s statement 6 Group Managing Director’s review 8 International growth strategy 10 Operations review US Cheese & Global Nutritionals 14 Dairy Ireland 16 Joint Ventures & Associates 18 Finance review 22 Risk management 28 Our responsibilities 30 Our people 31 Directors’ report: Corporate governance Board of Directors 34 Statement on corporate governance 36 Statement on Directors’ remuneration 46 Other statutory information 54 Statement of Directors’ responsibilities 55 Financial statements Independent auditors’ report to the members of Glanbia
    [Show full text]
  • Quarterly Update Q3 2016
    PRIVATE CLIENTS QUARTERLY UPDATE Q3 2016 DAVY IRISH EQUITY FUND FIGURE 1: Davy Irish Equity Fund Performance to 27th September 2016 FUND OBJECTIVE The aim of the Davy Irish Equity Fund (the ‘Fund’) is 40 to achieve long-term capital growth through actively managed investments in Irish companies listed on 35 the Irish or other stock exchanges. 30 FUND FACTS (AT 27TH SEPTEMBER 2016) 25 FUND SIZE €7.17 million INITIAL Up to 2% 20 PURCHASE on initial purchases and CHARGE any top-ups 15 EXIT Up to 0.5% CHARGE on redemptions 10 MINIMUM €1,000 5 SUBSCRIPTION ANNUAL Up to 1.35% 0 MANAGEMENT 2011 2012 2013 2014 2015 Q3 FEE 2016 DEALING DAY Wednesday All orders must be received Davy Irish Equity Fund Benchmark by 3:00pm on the Friday For further information on the Fund’s benchmark please contact your Davy private client adviser. before the dealing day Source: Davy / Bloomberg NET ASSET VALUE TABLE 1: Davy Irish Equity Fund Performance to 27th September 2016 (AT 27TH SEPTEMBER 2016) 2011 2012 2013 2014 2015 Q3 2016 NAV €284.2405 per unit* (%) (%) (%) (%) (%) (%) Davy Irish 7.84 31.31 38.75 12.36 24.14 6.82 YEAR-TO-DATE -7.39% Equity Fund PERFORMANCE Benchmark 0.58 20.36 35.68 16.46 33.28 6.45 *Source: Northern Trust Fund facts, NAV and fund performance relate to the Source: Davy / Bloomberg Fund’s oldest share class. Calculation NAV to NAV. OTHER DAVY EQUITY TRUST FUNDS MARKET REVIEW WHICH MIGHT BE OF INTEREST TO YOU Brexit the main feature of the quarter Davy Global Bond Fund Equities recover strongly after initial weakness Davy Strategic Global
    [Show full text]
  • Introduction of a Central Counterparty at Irish Stock Exchange Information for Production Start
    eurex circular 2 41/05 Date: Frankfurt, November 30, 2005 Recipients: All Eurex members, CCP members and vendors Authorized by: Daniel Gisler Introduction of a Central Counterparty at Irish Stock Exchange Information for Production Start Related Eurex Circulars: 057/05, 230/05 Contact: Customer Support, tel. +49-69-211-1 17 00 E-mail: [email protected] Content may be most important for: Attachment: Ü Front Office / Trading Updated List of CCP-eligible Securities for ISE Ü Middle + Back Office Ü Auditing / Security Coordination With this circular we complement information on the introduction of a Central Counterparty for the Irish stock market scheduled for next Monday, December 5, 2005. The Central Counterparty (CCP) for securities traded in the Xetra order book at Irish Stock Exchange (ISE) originated from a common initiative of Irish Stock Exchange, Euroclear/CRESTCo Limited and Deutsche Börse AG. Eurex Clearing AG, which already renders CCP services for other markets, acts as CCP. The product range for production start on December 5, 2005 comprises Irish stocks and Exchange Traded Funds (ETFs) traded in the Xetra order book at Irish Stock Exchange. Please find attached to this circular an updated list of securities which will be CCP-eligible for ISE effective December 5, 2005. Should you have any questions or require further information, please feel free to contact the Customer Support Team at tel. +49-69-211-1 17 00. Eurex Clearing AG Customer Support Chairman of the Executive Board: Aktiengesellschaft mit Sitz D-60485 Frankfurt/Main Tel. +49-69-211-1 17 00 Supervisory Board: Rudolf Ferscha (CEO), in Frankfurt/Main www.eurexchange.com Fax +49-69-211-1 17 01 Dr.
    [Show full text]
  • Morning Wrap
    Morning Wrap Today ’s Newsflow Equity Research 26 Apr 2016 Upcoming Events Select headline to navigate to article Paper & Packaging Leipa capacity addition may be Company Events delayed further 27-Apr CRH; Q1 IMS Glanbia; Q1'16 resutls Kerry Group; Q1'16 results 28-Apr Bank of Ireland; Q1'16 results Origin Enterprises Q1 updates from Bayer and Du Pont Howden Joinery; Trading update Applegreen Another independent operator gets funding to drive growth Builders Merchants Growth slows for Carpetright but upgrade gross margin guidance Breedon Aggregates Proposal put forward to the CMA to satisfy competition concerns Economic Events Ireland 28-Apr Retail Sales Mar'16 29-Apr Unemployment Rate Apr'16 UK Economic View Sterling benefits as “Remain” Residental Property Prices YoY Mar campaign gains momentum United Kingdom 26-Apr BBA Loans for House Pucrhase Mincon Group Sandvik report Q1 results; Mining continues 27-Apr GDP YoY 28-Apr Nationwide House Price NSA YoY to see challenges United States 26-Apr US Services PMI CPL Resources Randstad Q1 in-line, though UK lags Durable Goods Orders 27-Apr Pending Home Sales MoM 28-Apr GDP Annualised QoQ Glanbia 8% organic growth at DSM’s human nutrition 29-Apr U. of Michigan Sentiment Chicago Purchasing Manager division Europe 29-Apr CPI Apr'16 Unemployment Rate GDP SA YoY Goodbody Capital Markets Equity Research +353 1 6419221 Equity Sales +353 1 6670222 Bloomberg GDSE<GO> Goodbody Stockbrokers (trading as Goodbody) is regulated by the Central Bank of Ireland. For the attention of US clients of Goodbody Securities Inc, this third-party research report has been produced by our affiliate Goodbody Stockbrokers.
    [Show full text]
  • Case No COMP/M.7220 - CHIQUITA BRANDS INTERNATIONAL/ FYFFES
    EN Case No COMP/M.7220 - CHIQUITA BRANDS INTERNATIONAL/ FYFFES Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) in conjunction with Art 6(2) Date: 03/10/2014 In electronic form on the EUR-Lex website under document number 32014M7220 Office for Publications of the European Union L-2985 Luxembourg EUROPEAN COMMISSION Brussels, 3.10.2014 C(2014) 7268 final In the published version of this decision, some information has been omitted PUBLIC VERSION pursuant to Article 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and other confidential information. The omissions are shown thus […]. Where possible the information omitted has been replaced by ranges of figures or a general MERGER PROCEDURE description. To the notifying parties: Dear Sir/Madam, Subject: Case M.7220 - Chiquita Brands International/ Fyffes Commission decision pursuant to Article 6(1)(b) in conjunction with Article 6(2) of Council Regulation No 139/20041 (1) On 14 August 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking Chiquita Brands International, Inc. ("Chiquita", the United States) and the undertaking Fyffes plc ("Fyffes", Ireland) merge within the meaning of Article 3(1)(a) of the Merger Regulation (the "Transaction"). Chiquita and Fyffes are collectively referred to as the "Notifying Parties". 1. THE NOTIFYING PARTIES AND THE TRANSACTION (2) Chiquita is a US-based global importer and wholesaler of fresh produce, in particular bananas. In the EEA Chiquita's activities also include the supply of pineapples and other fruit, as well as the provision of banana ripening and shipping services to third 1 OJ L 24, 29.1.2004, p.
    [Show full text]