Fruit and vegetable distributor Fyffes has posted a 15.1% increase in pre-tax profit, excluding goodwill amortisation and exceptionals, to €48.7m in the six months to the end of June, compared to the same period in 2003.
The group reported turnover of €1.043bn, an increase of just 4.2% on first half period last year.
Operating profit rose 13.7% to €46.1m and the group's property business generated profits of over €14m for the first half.
Adjusted earnings per share came in at 9.9c, up 20.4%. An interim dividend of 1.53c, up 10.1%, was declared.
Fyffes produce businesses performed very well during the period, achieving a 15% increase in trading profits.
Profits in the group's tropical produce division were up thanks to better cost control and a slight increase in banana volumes.
The company said that trading in the first two months of the second half of the year has been satisfactory. Shares were down two at €1.82 in Dublin.
Fyffes shares ended unchanged at €1.84 in Dublin.
