Fyffes figures require a closer look

Fyffes shareholders cheered the fruit importer’s headline numbers last week as it reported a doubling in pre-tax profits to €35 million for the half-year to June.

13th September, 2008

Fyffes shareholders cheered the fruit importer’s headline numbers last week as it reported a doubling in pre-tax profits to €35 million for the half-year to June.

But their celebrations may have been cut short by the devils lurking in the details.

The bottom line was boosted to the tune of €33 million by the windfall gain arising from the settlement of the company’s long-running insider trading case with former shareholder DCC and its...

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