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Fyffes profit at upper end of target

Fyffes update - Cold weather affects trading
Fyffes update - Cold weather affects trading

Fruit importer Fyffes has said it expects its underlying profit figure for 2009 to be around €20m-€21m.

This is at the upper end of the €18m-€22m range for earnings before interest and taxation (EBIT) it signalled in September. It is also well ahead of the €15.3m figure for 2008.

Fyffes said the performance was achieved despite difficult trading conditions towards the end of the year due to the cold weather in Europe.

The company said it would continue to try to raise price in 2010 to offset increases in costs.

It added that the exceptional cold spell across Europe was affecting trading in the early weeks of the year.

Fyffes is currently targeting an adjusted EBIT figure of €17m-€22m in 2010.