REPUBLIC OF IRELAND: Fyffes reports positive start to this year
At the company's AGM on Monday, Irish company Fyffes Plc revealed that the first part of the year has been positive compared to the same period last year. The firm, which imports and distributes fresh fruit throughout Ireland, the UK and Europe, said that the revenue boost was down to improved conditions in the banana market.
Chairman Neil McCann commented in a statement: "Supply and demand are broadly in balance at the present time, which should help to secure the price increases necessary to offset the higher costs resulting from the continuing strength of the US dollar. The cost savings of €20m pa anticipated at the time of last year's restructuring measures are coming through as expected."
He added that the end of the long-running "banana war" between the EU and the US in April was also helping, and that overall, Fyffe's trading performance has been "encouraging and [...] ahead of expectations."
Fruit distributor Fyffes has posted a 15.2% increase in group revenue for the 2005 financial year - at EUR1,742m - thanks to a favourable European market. ...
Fyffes has acquired a 60% stake in Nolem, the Brazilian fresh produce export company, from a number of Brazilian shareholders....
Irish fruit importer Fyffes has lost its insider trading case against a former director, DCC managing director Jim Flavin....
Irish fruit and vegetable distributor Fyffes today (15 December) announced plans to detach its property assets from its primary fresh produce business and form a new company, Bluestone Properties Plc....
Fyffes is to pay a €20m special dividend to reflect what it has called an "exceptional performance in 2005"....
Irish fresh produce distributor Fyffes has attacked an EU decision to impose a EUR176 (US$208) a tonne tariff on imported bananas....
Colombian banana and plantain export company Uniban and Irish-based fresh produce company Fyffes have entered into a strategic alliance in the United States through a 50/50 ownership in Turbana Corpor...
Irish fresh produce distributor Fyffes has reported a 17.6% rise in profit before tax to €69.3m (US$86.1m) for the first half, describing the results as "exceptional"....
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