Fyffes keeps to full-year forecast

FYFFES has maintained its full-year earnings guidance of between €14 million and €18m, despite tough trading conditions knocking nearly €5m off its first-half profits.

The Dublin-headquartered fruit distribution giant yesterday reported adjusted pre-tax profits of €13.3m for the first six months of this year; down from €18.6m for the same period last year.

When exceptional items and Fyffes’ share of results from its spun-off property company, Blackrock International Land, were taken into account, the pre-tax profit amounted to €10.3m for the period – down from €12.63m on a year-on-year basis.