The former Geest banana business in the West Indies and Central America, jointly owned by Fyffes and Wibdeco, is expected to pay a dividend of £4.37 million this year. Fyffes' share will amount to £2.17 million.

Mr Arnhim Eustace, a director of the joint company, said: "There are many who thought it was inadvisable for the industry (the banana growers) to become involved in this venture but the company in its first year of operation has performed above expectations despite many difficulties." Wibdeco is jointly owned by the governments and banana associations of Grenada, St Lucia, Dominica and St Vincent. Fyffes and Wibdeco purchased the former Geest business for £147.5 million sterling in January 1996.