LONDON (Alliance News) - Fyffes PLC Friday said it is increasing its target earnings ranges for the full year 2015 as it has performed strongly in the year to date.
The Irish fruit and fresh produce company has increased its earnings before interest, tax, depreciation and amortisation target range to between EUR55 million and EUR61 million from between EUR44 million and EUR50 million, and has also increased its adjusted earnings per share to between 12.2 cents and 13.9 cents from between 10 cents and 11.8 cents.
It said the new Ebitda range now includes an estimated depreciation charge of around EUR11 million, compared with EUR8.1 million in the prior year.
Fyffes said it has continued to perform well in the year by securing necessary increases in the selling prices of bananas and pineapple in response to currency headwinds, and also performed strongly during 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 group also remains focused on achieving further efficiencies in its operations," the company said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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