Comment - Slip-ups but no surprises in Fyffes’ results
There’s lots of scope for dubious puns about banana skins and melons when writing about Fyffes’ results, which were released on Friday.
Overall, the earnings per share figure of 5.7c for both Fyffes and its spin-off Total Produce was roughly in line with expectations.
Management guided things substantially downward for 2007 indicating earnings of €20 million which is around 10 per cent below market forecasts. The problem is the impact of changes to the European wholesale banana regime and, while its negative impact was anticipated, it hit Fyffes to the tune of €40.9 million last year.
Aside from the...
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