Fyffes lifted by buoyant market
Favourable market conditions have buoyed business for Fyffes, the fruit distribution company said today.
Fyffes said the market has been maintaining momentum since the start of the year, particularly in the group’s continental European operations.
The company expects an increase in adjusted earnings per share, excluding exceptional items, in the mid teens in percentage terms by the end of the year, ahead of current market expectations.
This outturn will be weighted towards the seasonally stronger first half, with adjusted earnings per share for the first six months expected to be in the order of 40% ahead of the same period last year.
Under agreements entered into during the first half of the year, Fyffes is intending to invest a further €22m in new properties to accommodate the continuing development of its produce activities in a number of locations across Europe, with Edinburgh being the largest of these.
