Irish banana group Fyffes booked an increase in sales and adjusted earnings in the first quarter but saw one-off costs related to its pending merger with Chiquita Brands International dent the bottom line.
The company said sales increased to EUR306.5m (US$420.6m) in the three-month period, up from EUR296.5m in the comparable quarter last year.
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Gross profit rose 9.1% and adjusted EBITDA rose 14.9% the group revealed. However, operating profit dropped 27.4% due to exceptional costs related to the merger proposal. Net profit sank to EUR7.8m, down from EUR11.3m.
