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Fyffes reports strong half-year results

Fyffes' revenues increased by 8.7% to €644.3m in the first half of 2015, its pre-tax pr...
Newstalk
Newstalk

09.51 27 Aug 2015


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Fyffes reports strong half-yea...

Fyffes reports strong half-year results

Newstalk
Newstalk

09.51 27 Aug 2015


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Fyffes' revenues increased by 8.7% to €644.3m in the first half of 2015, its pre-tax profits are up by 9.3% to €33.9m.

The fruit distribution company gained from currency fluctuations during the period.

It saw improvements in the banana market, and price increases in other categories which helped to boost income.

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Chairman David McCann commented on the results, "Fyffes is pleased to report a continuation of the strong growth in earnings achieved in recent years, with a 12.2pc increase in adjusted earnings per share in the first half of the year."

He continues, "The Group is also pleased to reconfirm the increased 2015 full year target earnings ranges announced on 19 June 2015.  This demonstrates the Group’s ability to quickly adapt to prevailing market conditions given the significant adverse movement in exchange rates earlier in the year."

The company attempted to merge with Chiquita last year but the deal failed.

It has maintained its full year target for earnings per share at 12.2 to 13.9 cent, and increased its interim dividend by 15%.


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