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Starting to pick up on low volumes
I agree, a very steady company. Suspect we may have to wait a year or two for some more excitement.
I doubt it, if you check the interim statement they estimated a charge of €8m to cover their costs. I expect the balance will just be added to the pile for use on another day.
Back to the drawing board. There will be another day. I wonder will they team up with Total Produce?
CQB very strong this evening. $13.20 just now, however volume is low
Thank you.
1 Fyffes share = 0.1113 Chiquita share
Could anybody tell me the terms of the merger, thank you.
Brazil rival raises tensions in Fyffes deal: Fyffes and Chiquita, the banana distributors seeking to keep their proposed merger on course, have hit out at the Brazilian interlopers whose all-cash rival offer threatens to derail their attempt to create a global distribution group with combined sales of $4.5 billion.
Markets go bananas for Fyffes and Chiquita’s shipping savings: Shares in London-listed fruit giant Fyffes jumped, after a joint announcement with banana colossus Chiquita that the firms identified another $20 million (£12.06 million) in synergy savings to be made by their merger.
Chiquita, the US banana producer, has rejected this week’s $1.25bn takeover offer from two of Brazil’s wealthiest families, turning the banana wars into a potentially bitter battle. The food producer turned down the bold all-cash bid from Brazil’s Safra and Cutrale groups on Thursday, saying that it intended to stick to its original plan of merging with Ireland’s Fyffes. (Financial Times)
US banana group slips out of Irish hands Fyffes’ shares tumble after Cutrale, the Brazilian orange producer, and Joseph Safra, the billionaire banker, make $611m counter-offer for US group
Hi Forbes, I think it was the 2005 Banana Weavil outbreak what affected the SP. They sailed across the ocean from another conttnent on palm leaves and devoured all the bananas. The only placed left in the UK what I know grows bananas now is at the Eden Project in Cornwall. I was there last year and I saw no weavils so they must be ok. They sure had lots of bananas anyway (although most were not straight enough to pass the quality tests used by some todays super market chains). Anyhow, that's what I know. which probably leaves you asking the question "what does he know ?". I guess the answer is, as always ... ... IMHO, DYOR and of course the now customary ... GSOH. "Bon chance mon ami" as they say in the former French colony of Mali. I am Buchaneer. Remember my name.
what happened after 2005 that it all went down hill? did people stop wanting bananas?
hi wexboy - read your post - would you say fyffes is still a buy?
2014 – The Great Irish Share Valuation Project (Part VIII) I take a look at Fyffes, plus a batch of other Irish stocks: http://wexboy.wordpress.com/2014/04/17/2014-the-great-irish-share-valuation-project-part-viii/ Cheers, Wexboy
Morning, Just a general question if I may! Do most think that this share will rise in time ? Thanks.?
Chiquita has strength in the US, whereas Fyffes has Europe exposure. Chiquita is much larger but Fyffes is debt free. Combined they will be looking at 14% of the market and costs savings of 40 million. This is truly superb news.
Don't hold any here but nice to see this happen... Fair play :-)
I was listening to the world service business news last week and they had a report about Panama disease which is thr eatening banana crops in various parts of the globe, hope it doesn't cause any problems for Fyffes.
volcano Posts: 1,794 Off Topic Opinion: No Opinion Price: 69.00 mail on sunday 10 Nov '13MIDAS SHARE TIPS: Undervalued banana supplier Fyffes is a bargain bunch - with a rising dividend to boot By JOANNE HART, FINANCIAL MAIL ON SUNDAY PUBLISHED: 22:21, 9 November 2013 | UPDATED: 08:59, 10 November 2013 2 View comments Bananas are the most popular fruit in the world and more than 100billion are consumed every year. Fyffes is the leading supplier in Europe and ranks number four in America. At 69p, the shares do not reflect the company’s position, but chairman David McCann is determined to rectify this and the stock should benefit. Fyffes has a colourful history dating back to 1880, when EW Fyffe Son & Co received the first commercial delivery of bananas from the Canary Islands. Ripe: Fyffes has a history that stretches back to the 1880s Ripe: Fyffes has a history that stretches back to the 1880s Today the business has operations in Europe, the US and Central and South America, selling not just bananas but pineapples and melons, too. The company sells more than four billion bananas a year in Europe, about half of which are consumed in the UK alone. It is the number one distributor of melons in the US and it ranks number three there and in Europe for pineapples. More... FYFFES SHARES: Check the latest price here DIY share dealing: Buy and sell for a flat £12.50 with cheap dividend reinvestment For many years a UK business, Fyffes was bought by an Irish food group in the 1980s, so it is now listed in Dublin and London and reports in euros. Pre-tax profits last year were €27million (£22.5million), this year they are expected to be €27.6million and in 2014 they are forecast at almost €30million. Dividends, paid in pence to British shareholders, are forecast to rise from 1.7p for 2012 to 1.9p for the current year and 2.2p for 2014. Growth this year has been held back for four principal reasons. First, most of Fyffes’ costs are in dollars but its sales are largely in euros and pounds, so it was affected when the US currency was strong earlier in the year. Second, the group has historically bought most of its bananas from local farmers in Central and South America. Prices have been rising and Fyffes has been unable to pass on all its increased costs to customers. Third, transport costs have been rising, and fourth, the long winter in Europe reduced consumer appetite for fresh fruit. Next year and beyond, however, the situation should be much improved. Fyffes already produces all the melons it sells and about 60 per cent of its pineapples, but it is responsible for just 5 per cent of banana production. It is keen to increase that percentage, giving it greater control over the entire sales process. Foreign exchange markets are also moving in Fyffes’ favour as the euro and sterling strengthen against the dollar. The company should benefit, too, as the economic situation imp
that's nice. spent my day fretting over the usual bunch of potentially volatile, actively traded tech and mining stocks, and didn't even notice this had happened 'til i saw it on the news tonight. lol, i'm in the money, i'm in the money. i didn't see this coming at all, just thought this was a nice quiet long term hold for decent dividend and moderate steady growth possibilities. how nice to be surprised the right way round for a change.
Hi all New to fyffes shares . Anyone know better than me as to the share will go higher? Over next year?
Someone just bought half a million £s worth. I think you'd be bananas to sell these now. Did the RNS say it would create a company with €4 billion revenue and €40 million savings from merger? I think these are going to continue to gain quite strongly. I need a bit of time to look into this.
How many more banana jokes? A bit of a surprise this news. I did not expect that today. Thought this was going to be one of my steady little numbers. Where do we think this is going now? By the way - why do bananas never get lonely - because they hang around in bunches.