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Don't have an account? Click here to register.Fyffes reports rising sales as banana prices rise
Mon, 03rd Sep 2012 08:31
Fruit importer Fyffes has lifted its full-year forecasts after successfully increasing banana and pineapples sales.Total revenue, including the group's share of its joint ventures, was €92m higher (20.0%) year-on-year in the first half, amounting to €550.1m. Profit before tax came in at €22.4m against €17.3m while the interim dividend was raised from 0.605 euro cents last year to 0.65 cents this year.Fyffes says banana sales were particularly strong, showing a €3.9m increase in operating profit. This came despite a significant adverse movement in exchange rates, due to the strength of the US dollar, combined with higher fruit costs and a further 20% increase in bunker fuel prices. The answer was quite straightforward - raise prices, which is exactly what Fyffes did.Pineapple sales increased 8% by volume and also benefited from lower shipping costs.Commenting on the results, Chairman David McCann said: "Fyffes has delivered a strong increase in profits for the first half of the year, driven by further organic growth in each of its product categories. Earnings per share also benefited from the significant repurchase of shares in 2011. Fyffes is increasing its 2012 full year target for earnings before interest, tax depreciation and amortisation (EBITDA) range to €28m-€33m from €25m-€30m previously."BS
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6 Feb 2017 10:43
EU clears Sumitomo takeover of Fyffes
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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
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Fyffes buys second Canadian mushrooms producer
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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
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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
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