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Don't have an account? Click here to register.Fyffes profit flat after tough
Wed, 02nd Mar 2011 08:07
Fruit importer Fyffes revealed flat full year profit as it grappled with 'exceptionally difficult trading conditions.'"In the context of the exceptionally difficult trading conditions which persisted in the banana category for much of the first half of the year, this result represents a very satisfactory outcome for 2010," said chairman David McCann. Profit before tax rose to €21.3m in 2010 from €21.2m the year earlier. The figure does not include once-off items and losses at property group Balmoral. Total revenue, which includes its share of joint ventures, was up 2% at €742.1m. Adjusted earnings per share for the year increased by 6%.McCann said trading in the first two months of 2011 had also been satisfactory after improvement in the second half.Previously cold weather in the first three months of the year and excess market supplies during much of the first half resulted in a significant reduction in operating profits in the category, the group explained. Banana profits were also significantly impacted by adverse exchange rates during 2010.Fyffes is proposing a 9.1% increase in its final dividend for 2010 to 1.2 cents.
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