Wednesday 29 March 2017

Fyffes reaffirms target earnings after strong first half

Fyffes boss David McCann
Fyffes boss David McCann
Michael Cogley

Michael Cogley

Irish fruit firm Fyffes has reaffirmed its full year guidance after the company reported a continuation of earnings growth during the first six months of the year.

Earnings during the opening half of the year rose by 11.3pc in a period where it completed the acquisition of Highland Produce.

Revenue increased by 14.7pc to €793m while earnings per share increased to 10c.

Fyffes chairman David McCann said the results from the first six months have been satisfactory.

"The group was very pleased to complete the purchase of Canadian mushroom business, Highline Produce, during the period.  Highline has performed in line with our expectations for the three-month period post acquisition. 

"The first half results in the group’s other product categories were in line with the same period last year in aggregate, with strong performances in the pineapple and melon categories," he said.

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