Tropical fruit distributor Fyffes says it still expects a low double digit percentage increase in full-year adjusted earnings per share - in line with market expectations.
In a trading update ahead of its AGM in Dublin today, the company says it also anticipates a percentage increase in adjusted earnings before interest and tax for the full year 'in the mid-teens'.
'The significant industry wide cost inflation experienced during the past number of years has continued and accelerated during 2008,' it said in the statement.
But it adds that the group's trading performance for the first four months of the year, especially in Continental Europe, has been well ahead of the same time last year.
Fyffes says it needs to achieve higher year on year prices across all of its operations for the rest of the year to offset the impact of the continuing increases in the costs of fruit and fuel.
As previously announced, the company's CEO Jimmy Tolan is to step down at the end of the month and will continue as a non-executive director.
Earlier this month, Fyffes said it had settled its legal action against DCC, S&L Investments, Jim Flavin and Lotus Green. The company said that under the terms of the settlement in the marathon case, Fyffes will receive €37.6m.
