Fyffes revise targets

Fyffes plc has revised its target adjusted EBIT for 2007 to approximately €15m from €20m previously.

The key drivers of Fyffes annual performance are primarily average selling prices, exchange rates and the costs of fruit, shipping and bunker fuel, all of which can result in volatility in year on year profitability.

The primary factors giving rise to this reduction are the recent significant increase in bunker fuel prices, which is expected to continue, and higher than anticipated losses in Nolem, our Brazilian winter melon joint venture, in respect of the recently completed 2006/2007 season.

In addition, the required convergence of Continental European banana selling prices towards prior year levels has not occurred in April and May as fully as was had previously anticipated.