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Fyffes reaps €20m from land sale

Fruit distributor Fyffes says it is on target to meet market expectations for profits this year.

In a trading update, the group also announced that it had entered agreements to sell surplus properties for a total of €20m.

The properties being sold include an industrial property in Dundalk and lands at Kinsealy, Co Dublin.

Fyffes has also completed the acquisition of 80% of Germany's Internationale Fruchtimport Gesellschaft Weichert for $30m.

Shares in Fyffes closed three cent higher at €1.28 in Dublin this evening.