Fyffes grows profits despite tough year

FRUIT importer and distributor Fyffes made pre-tax profits of €21.3 million last year, up marginally on the 2009 figure.

When the group’s 40% share of the after-tax losses of property group Balmoral of €8.3m are deducted the profit is reduced sharply to €8.8m for the year.

Total sales (including the share of joint ventures) was 2% higher at €742.1m, while earnings per share rose 6% to 5.5 cent against 5.19c in 2009.