Irish fruit distributor Fyffes revealed today (10 March) that full-year profits plummeted due to a loss from a property investment and increased costs.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Net income for the 12 months ended 31 December sank to EUR70,000 (US$89,602), down from EUR9.3m last year, and pre-tax profit before one-time items declined to EUR15.9m, down from EUR18.4m.


Profits were dented by a loss of EUR28.6m from Fyffes’ share of Blackrock International Land. The company added that the increased cost of fruit and shipping also depressed its results.


Nevertheless, Fyffes reiterated its January forecast that earnings before interest and tax will fall in a range of EUR14-18m.


“Profits for 2008 were slightly ahead of target and market expectations, notwithstanding the unprecedented increases in the costs of fruit, shipping and fuel,” chairman David McCann said.

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.

Company Profile – free sample

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“After a slow start to the year, pricing has improved in recent weeks,” he added.