Fyffes property deals to net €14m this year

Fruit importer Fyffes plc has stated that it has completed the disposal of its interest in its property joint venture in Dundalk, Co Louth.

The joint venture with Lagan Developments Ltd owned 26 acres owned 26 acres of town centre lands and secured planning permission in 2003 for the construction of a 300,000 square foott new shopping centre development on its site.

The group has also entered into an agreement to sell lands in Kenmare, Co Kerry, the company said in a statement issued to the Irish Stock Exchange this afternoon.

These two transactions are expected to net exceptional profits of €14m for the group this year.