Fyffes shrugs off weaker banana prices

15 June 1999

Fyffes shrugs off weaker banana prices

FYFFES, the Dublin-based fresh produce group, has raised interim profits by 34% despite weaker banana prices.

But the sale of its stake in a beverages business and the disposal of two properties contributed Euro7 million to the total of Euro39.6m (£25.6m Sterling) in the first six months of the year.

Excluding exceptionals, profits rose just over 10% to Euro32.6m on sales up from Euro914.3m to Euro931.5m.

The group is still awaiting regulatory clearance from South Africa for its joint venture with Capespan, the largest exporter and marketer of South African fresh fruit, which will add about £450m to turnover.

The group confirmed it was interested in making further acquisitions.

  • The Times 15/06/99 page 31, page 32 (Tempus)
  • The Independent 15/06/99 page 18
  • Financial Times 15/06/99 page 26
  • The Daily Telegraph 15/06/99 page 28 (Questor), page 29
  • The Herald 15/06/99 page 23

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