Irish fresh produce company Fyffes reported pre-tax profits in the first half of 2002 of 2002 at €38.9m (US$38.2m).
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This excludes goodwill amortisation of €0.8m and exceptional items of €5.6m, and compares favourably with the €36.8m reported for the same period in 2001. Adjusted fully diluted earnings per share for the first half increased by 8.6% to 7.84 cent compared to 7.22 cent in the same period last year.
The Board has declared an interim dividend of 1.2646 cent per ordinary share, an increase of 10% on the interim dividend in 2001.
Chairman Neil McCann said: “Continuing initiatives to reduce operating costs and the disposal of certain businesses have resulted in an improved operating margin and further growth in profits before tax and earnings per share. Strong operating cash flows have increased net cash resources to €162.9m, leaving Fyffes well placed to maintain its strategy of Group development by acquisition.”
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