Irish-based fresh fruit and vegetable distributor Fyffes has reported a 16.5% increased in full-year net profit, boosted by acquisitions and the weak dollar.

The company posted profit of €51.3m (US$62.2m) for 2003, compared to €44m in the previous year.

Sales increased 4.8% to €1.93bn, helped by Fyffes' acquisition of Germany's Interfrucht and Hortim in the Czech Republic in the second half of 2002. Analysts had been expecting sales of €1.67bn, reported Dow Jones News.

The company experienced weak sales during the heat wave in Europe last summer, but this was offset by the impact of the stronger value of the euro against the dollar.