Fruit distributor Fyffes has increased its earnings target for the full year as it said it has continued to perform well so far this year.
Shares in the company closed 10.2% higher in Dublin trade, ending the week at €1.30.
In a statement, the company said its was increasing its EBITDA targets from €44-50m to €55-61m while it it also raised its adjusted earnings per share from 10-11.8 cent to 12.2-13.9 cent.
Fyffes said it had secured the necessary increases in the selling prices of bananas and pineapples in response to currency headwinds.
It also said it has had another strong performance in the recently ended US melon import season.
"Fyffes is confident about the future prospects of its business and is well placed to compete strongly in its key markets, following important strategic and operational developments in recent years," the company said.
It also said it remains focused on achieving further efficiencies in its operations.
