Fyffes says earnings remain in line with targets

Fruit company says it anticipates full-year earnings of €36-€42 million

Fruit company Fyffes said it expects its full-year earnings target to be in line with previous forecasts.

In a brief trading statement, the company said it anticipated full-year earnings of €36 million - €42 million.

It forecast adjusted earnings per share of 7.5-9.2 cent.

The group said it saw “a significant step up in profitability” in the previous year and was focused on consolidating this higher earnings range.

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“Fyffes continues to pursue the necessary increases in selling prices in all markets to offset the impact of cost inflation, including higher fruit costs and adverse exchange rate movements, as a result of dollar strength against both sterling and the euro,” it said.

Fyffes said it was actively reviewing a number of development opportunities in order to continue to grow the group’s shareholder value without elaborating.

Eoin Burke-Kennedy

Eoin Burke-Kennedy

Eoin Burke-Kennedy is Economics Correspondent of The Irish Times