Fyffes sticks to targets after solid first half
Canadian acquisition Highline performing in line with expectations
Fruit importer Fyffes has reported pre-tax profits of €35.6m for the first half of this year, up 4.5 per cent from €30.8m in the same period last year.
Total revenue rose by almost 15 per cent to €739.3m, and earnings before interest, tax, depreciation and amortisation (EBITDA) were 11.3 per cent higher at €44m. A 10 per cent higher interim dividend of 0.9032 cent has been declared.
The company lifted its target for full-year adjusted earnings to €63-69m in April after its acquisition ofCanadian mushroom business Highline Produce, and chairman David McCann said today Fyffes was sticking to this target. He described the first-half figures as satisfactory, given the difficult market conditions, including the weakness of sterling and the euro against the US dollar.
