Fruit distribution firm says profits for 2009 could reach nearly €22m

FYFFES has said that the harsh winter weather had an effect on trading towards the end of last year, but still expects profits for 2009 to come in at the upper end of its previously guided range of between €18 million and €22m.

The Dublin-headquartered fruit distribution giant said yesterday, via a short trading update, that adjusted earnings before interest and tax (EBIT) should come in at between €20m and €21m. Management guided between the €18m and €22m last September. A profit for last year (the 2009 full-year figures are scheduled for publication in March) of anywhere near the upper end of that range would be a significant improvement on the €15.3m generated in 2008.

The adjusted EBIT figure would exclude any exceptional items, amortisation and Fyffes’ 40% shareholding in spin-off property development company, Blackrock International Land.