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