Irish produce group Fyffes has indicated that “difficult market conditions” will place greater emphasis on its second-half performance for it to meet its profit targets.
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The company reiterated that it is targeting adjusted EBITDA in a range of EUR14-18m (US$18.7-24m) for the current fiscal year.
However, in a regulatory filing this evening (26 April), the group said that the target was subject to EU plans to reduce banana import duty and its ability to achieve the “necessary” changes in selling prices and costs.
Fyffes added that profits would be “significantly less weighted towards the first six months” than in recent years.
