Irish banana group Fyffes has raised its EBITDA target on the back of "strong earnings growth".
Fyffes said it would raise full year EBITDA targets to EU55m-61m (US$62-69m) up from a previous target of EU44m-50m. The target includes an estimated depreciation charge of EU11m for 2015, compared to EU8.1m in 2014.
Go deeper with GlobalData
Adjusted EPS was increased to 12.2-13.9 cents from 10.0-11.8 cents previously.
The group said it has continued to perform well in the year to date including securing necessary increases in selling prices in the banana and pineapple categories in response to significant currency headwinds and through its constant focus on operational efficiencies."
"Fyffes is confident about the future prospects of its business and is well placed to compete strongly in its key markets, following important strategic and operational developments in recent years."
See Also:
The company also said it remained focused on "achieving further efficiencies in its operations." A spokesperson for Fyffes said effiencies would take place mainly in "logistics and other operations". She said there were "no plans" for any job losses.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
