Fruit importer Fyffes has today increased its full-year earnings target to between €25 million to €30 million from a previous guidance of between €22 million and €27 million.
This equates to an adjusted earnings per share of between €6.80 and €8.30 cent, compared to 6.05 cent last year.
The company announced earnings before interest, taxes, depreciation, and amortisation (ebitda) of €23.2 million for 2011.
Fyffes, which is holding it agm today, said the sector had experience further cost inflation in recent months as well as higher bunker fuel costs and less favourable exchange rates.
"Fyffes continues to pursue necessary increases in selling prices in all markets," it said in a statement.
"The group’s performance to date in 2012 and its positive outlook for the full year reflects the impact of further operational efficiencies, a continued focus on costs and returns on the group’s significant investment in the business in recent years," it add
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