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10 May 2012 07:00
Stock Exchange Announcement
Fyffes increases target profit range for year
Fyffes has delivered a strong performance in the early months of 2012. The Group is increasing its target EBITA range for the full year 2012 to €25m-€30m, from €22m-€27m previously, and compared to €23.2m in 2011. This would equate to an adjusted EPS* of between 6.80 and 8.30 cent, compared to 6.05 cent in 2011. As in prior years, this result will be significantly weighted towards the first half.
The industry has experienced further cost inflation during the period, including higher bunker fuel costs, and less favourable exchange rates. Fyffes continues to pursue necessary increases in selling prices in all markets. The Group's performance to date in 2012 and its positive outlook for the full year reflects the impact of further operational efficiencies, a continued focus on costs and returns on the Group's significant investment in the business in recent years.
Fyffes remains focused on growing the Group both organically and through further strategic acquisitions and alliances.
* Adjusted EPS excludes amortisation charges.
Fyffes plc
10 May 2012
For further information, please contact:
Brian Bell, Wilson Hartnell PR - Tel: +353 1 669 0030
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