Fyffes profits down

Fruit distributor Fyffes has announced a €2m fall in before-tax profits for the six months to the end of June this year, compared with the same period last year, from €17.7m to €15.7m.

Group revenue surged up from €197.5m to €286.2m, but Fyffes said these year-on-year figures are not directly comparable as sales to spin-off company Total Produce are included as third-party revenue in 2007, while the equivalent sales in 2006, prior to the demerger of the group’s general produce and distribution business, were eliminated as inter-segment revenue.