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Don't have an account? Click here to register.Fyffes lifts full year view
Thu, 05th Sep 2013 07:32
Tropical fruit importer and distributor Fyffes boosted its full year targets after it revealed an improved set of half year earnings.The Dublin headquartered group, which import tropical produce from operations in Central and South America, the US and Europe, said first half total revenue, including its share of its joint ventures, rose to €585.4m, up 6.4% from the same half a year earlier. Adjusted pre-tax profit rose 1.1% up on the same period last year to €22.2m despite difficult trading conditions in its banana category and unfavourable exchange rates. Higher fruit costs also hampered progress however Fyffes said its pineapple and US melon business remained satisfactory. Chairman David McCann said: "Trading conditions have remained positive in the early months of the second half. Fyffes continues to pursue necessary increases in selling prices in all markets to offset the impact of higher fruit costs and less favourable exchange rates, particularly the Sterling / US Dollar currency pair." Fyffes is increasing its target EBITA range for the full year 2013 from €27m-€33m to €29m-€34m, compared to €30.5m in 2012.CJ
More News
6 Feb 2017 10:43
EU clears Sumitomo takeover of Fyffes
(ShareCast News) - Sumitomo Corporation's €751m (£646m) takeover of fruit distributor Fyffes has been cleared by the European Commission. AIM-Listed Fyffe's agreed to the deal last December. Fyffes shareholders are to receive €2.23 per share under the terms of the transaction.
Read more9 Dec 2016 10:12
Sumitomo to buy Irish food distributor Fyffes for €751.4m
(ShareCast News) - Fyffes has agreed to be bought by Japan's Sumitomo in a €751.4m deal. Under the terms of the acquisition, the Irish food distributor - known for its banana business - will receive €2.23 in cash for each of its shares, which is a premium of around 49% to the closing price on Thursd
Read more16 Sep 2016 12:25
Fyffes to raise €47m on the London and Irish stock exchanges.
(ShareCast News) - Irish fruit and fresh produce company Fyffes raised about €47m through a share placing on the London and Irish stock exchanges. The company, through stock broker J&E Davy, will place about 31.45m shares at €1.50, with each share carrying a voting right and a dividend payment, repr
Read more8 Sep 2016 07:50
Fyffes buys second Canadian mushrooms producer
(ShareCast News) - Fyffes' has returned to Canada for second helpings of mushroom, acquiring Canada's second largest fungi farmer, All Season Mushrooms, for CAD$59.1m (€41m) after buying the country's number-one producer earlier in the year. Ireland-based and AIM-listed Fyffes bought 100% of All Sea
Read more25 Apr 2016 15:07
1 Apr 2016 14:28
Fyffes gets into the Canadian mushroom business
(ShareCast News) - Fyffes expanded into the Canadian mushroom business on Friday, purchasing 100% of the equity of the country's largest producer. The AIM-traded banana company said it paid CAD 145m (£77.9m) for Highline Produce, funded through new and existing bank debt. Fyffes' board described Hi
Read more26 Feb 2016 15:34
Investors peel away from Fyffes stock after good results
(ShareCast News) - Brits going bananas for imported fruit made for a good year at Fyffes in its annnual report on Friday, but investors weren't sharing the sentiment. The AIM-traded company saw EBITDA increase 16.4% to €56.1m (£44.2m) in the 2015 calendar year, and reported earnings per share growth
Read more19 Feb 2016 16:09