Fyffes is looking to expand through acquisitions in southern Europe and the Far East, the Ireland-based fruit importer said yesterday (12 May).

Chief executive Jimmy Tolan told the company's AGM that Fyffes is looking at the two regions to drive growth from the business, which last month issued a profit warning for this year.

Fyffes is expecting operating profit to reach EUR15m (US$19.9m) this year, down from an earlier forecast of EUR20m.

The company has cited an increase in fuel costs and losses from a venture in Brazil as the reasons behind the downbeat forecast.

A Fyffes spokesman today confirmed the company's ambitions in terms of acquisitions but declined to comment further.