Fyffes has said that an additional $20m (€15m) worth of synergies from its proposed merger with US fruit giant Chiquita have been identified.

The planned merger of Fyffes with its US banana-producing rival, Chiquita Brands is still widely expected to succeed, with one analyst suggesting a deal could be concluded earlier than anticipated by the end of October.

Initial professional fees connected with its proposed merger with US banana producer, Chiquita, affected profits at Fyffes in the early part of this year, but the Dublin-based fruit distributor has maintained its positive earnings forecast for this year.

Fyffes has generated revenues of over €1bn for the first time in six years.

Fruit importer Fyffes is on track for a bumper year after recording a 30% increase in profits for the first half of the year.

Fyffes has reported a 14.5% rise in revenues for 2011, up to €850m from €741.2m the previous year.

FYFFES has reported a 30.4% year-on-year increase in first-half profits and has maintained its guidance for the full year.

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.

FRUIT importers and distributors Fyffes boosted the pay of chairman David McCann in 2009 to €1.3 million from €1.1m.

FYFFES has reported its strongest profit for four years, but has also lowered its earnings guidance for 2010 due to the impact of the harsh weather in Europe since the turn of the year.

FYFFES has said that the harsh winter weather had an effect on trading towards the end of last year, but still expects profits for 2009 to come in at the upper end of its previously guided range of between €18 million and €22m.

FRUIT importer Fyffes has again raised its full-year earnings target for 2009 after posting good first-half profits.

Fruit company Fyffes this morning posted profits before tax of €18.5m for the first six months of the year, an increase of 18% on H1 2008.

BLACKROCK Land, the property development company spin off from Fyffes, said the proposed National Asset Management Agency (NAMA) will have a positive impact on the economy.

FYFFES, the publicly quoted fresh produce group, has bought a pineapple plantation and related production assets from Agroindustries Golden West in Panama.

FYFFES PLC, the Irish tropical-fruit distributor, said profit this year will be in line with analysts' estimates, with the outcome “significantly weighed” toward the first half of the year.

CORPORATE Ireland’s reputation was done a great disservice yesterday when DCC executive chairman Jim Flavin was allowed to present a briefing on that company’s results.

FYFFES’ chief executive Jimmy Tolan will succeed Vincent Sheridan as head of VHI Healthcare.

A HEARING to decide what compensation must be paid by DCC plc to fruit distributor Fyffes and institutional investors over insider dealing by DCC chief executive Jim Flavin in the sale of the DCC stake in Fyffes in early 2000 has been fixed by the High Court for June 17 next.

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.

DCC has again expressed its confidence that executive chairman Jim Flavin should remain in his post following last week’s Supreme Court ruling that he and the company had engaged in unlawful trading in Fyffes’ shares.

DCC, the oil and food distribution group, faces a compensation bill of up to €50 million after the Supreme Court ruled it had engaged insider dealing in shares of banana importer Fyffes.

DCC could face fresh claims for damages following the Supreme Court’s ruling that it had engaged in insider dealing in Fyffes shares.

Food distribution company Fyffes has made a before-tax profit of €35.2m for the first six months of the year, down from €74.7m in the same period last year.

Fyffes plc has announced that performance so far this year is in line with expectations.

FYFFES has confirmed that, at its EGM held in Dublin yesterday, shareholders adopted the proposed resolutions approving the de-merger of its property undertaking to Blackrock International Land and its subscription for 40% of Blackrock.

THE surge in profits at fruit importer Fyffes last year has been reflected in the pay packets of the company’s top bosses.

THE surge in profits at fruit importers Fyffes last year has been reflected in the pay packets of the company’s top bosses.

A circular to Fyffes shareholders setting out details of the proposed demerger of the group’s property undertaking and the subscription for shares in the new property company has been posted today.

Fruit distributor Fyffes is to mount a Supreme Court challenge over its failed €106m insider-dealing case against former director, DCC chief Jim Flavin, the company confirmed today.

FYFFES has reported a near 28% rise in profits for 2005 but says earnings this year will be hit by changes to the EU banana import regime and higher costs.

FRUIT importer Fyffes plans to spin off its growing property portfolio into a separate company.

Fruit distribution company Fyffes rose 13c to €2.26 following the news that they intend to establish a new, separately quoted property company, Bluestone Properties plc, with initial net assets of approximately €200m.

ISEQ-listed fruit-distribution company Fyffes intends to establish a new, separately quoted property company, Bluestone Properties plc, with initial net assets of approximately €200m.

FYFFES plans to reward its shareholders with a special dividend payment, as earnings this year have soared.

FYFFES shares jumped 4% yesterday after the fruit importer said its first-half figures would be significantly ahead of expectations.

THE chief financial officer of DCC has agreed before the High Court that a letter, which he had requested a Dutch director of a DCC Dutch-registered subsidiary write, gave an incorrect impression about who had suggested the calling in early February, 2000, of a boardmeeting of the Dutch subsidiary to discuss the possible sale of the DCC stake in Fyffes.

FYFFES’ chairman Carl McCann feared Jim Flavin was gaining “creeping control” of the fruit importers in 1998.

FRUIT importer Fyffes had good news for shareholders yesterday when it announced a 44% rise in profits for the six months to June.

Fruit distribution company Fyffes has announced a 44.2% increase in pre-tax profits for the six months to the end of June. Profit was up from €42m in the same period last year to €60.6m this year.

NEIL McCANN, the veteran chairman of fresh produce importers Fyffes stepped down from his post yesterday.

KERRY GROUP shares are trading at a 50% discount to peer companies around the world and offer a significant buying opportunity, according to NCB stockbrokers.

FYFFES will report a drop in turnover to €1.72 billion for 2002, according to the forecasts of one analyst. This marks a slip from €1.955 billion last year.

WEAKNESS in the US dollar, at four year lows against the Swiss franc, is bringing mixed fortunes for two prominent Irish groups, according to recent research.