FFY.L Regulatory News (FFY)

24 May 2007 07:00

Fyffes PLC23 May 2007 Stock Exchange Announcement Fyffes revises target EBIT for 2007 Fyffes plc is revising its target adjusted EBIT for 2007 to approximately €15mfrom €20m previously. The key drivers of Fyffes annual performance are primarily average sellingprices, exchange rates and the costs of fruit, shipping and bunker fuel, all ofwhich can result in volatility in year on year profitability. The primary factors giving rise to this reduction are the recent significantincrease in bunker fuel prices, which is expected to continue, and higher thananticipated losses in Nolem, our Brazilian winter melon joint venture, inrespect of the recently completed 2006/2007 season. In addition, the requiredconvergence of Continental European banana selling prices towards prior yearlevels has not occurred in April and May as fully as we had previouslyanticipated. Fyffes continues to actively pursue its medium term strategy of doubling itsbusiness within five years through organic growth and, in particular, furtheracquisitions and alliances. Fyffes plc23 May 2007 For further information, please contact: Brian Bell, Wilson Hartnell PRTel: +353-1-669 0030 This information is provided by RNS The company news service from the London Stock Exchange