Fruit company Fyffes reported pre tax profits of €71.6 million for 2003 as European sales recovered after the summer heatwave and a weak dollar reduced costs.
Turnover for the year was €1,925 million compared to €1,837 million in 2002 - reflecting the contribution of the acquisitions of Interfrucht in Germany and Hortim in the Czech Republic in the second half of 2002.
The group said volumes in Europe were ahead of the previous year and market conditions were generally favourable, especially following the summer heat wave.
Hortim, which reported losses in the second half of 2002 due to flooding in the Czech Republic, generated profits in 2003 in line with the Group's expectations. The 2003 results of the Group's Capespan joint venture were held back by the costs of a significant restructuring of its business during the period, mainly in Britain.
Fyffes netted €4 million in one off sales of properties in Ireland, Britain and Italy.
The company will pay a final dividend of 4.33 cent per share, bringing the total dividend per share for the year will to 5.72 cent, an increase of 9.9 per cent on 2002.