Fresh fruit distributor Fyffes posted a sharp fall in full-year pretax profit.
The company's statutory pretax profit for the year to December 30th declined to €38 million from €105.8 million in 2005.
But group revenue from continuing operations rose to €408 million from €386 million. The company lowered its final dividend to €1.70 cents a share, from €5.20 last time, taking the total for this year to €3.36 cents.
Fyffes said its profits were in line with its expectations given a changed environment due to the new EU banana import regulations.
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Assessing the Fyffes results is further complicated by the fact that last year saw the demerger of its property and distribution arms into Blackrock and Total Produce respectively.
Agencies