Fyffes says earnings remain in line with targets

Fruit company Fyffes said it expects its full-year earnings target to be in line with previous forecasts.

In a brief trading statement, the company said it anticipated full-year earnings of €36 million - €42 million.

It forecast adjusted earnings per share of 7.5-9.2 cent.

The group said it saw “a significant step up in profitability” in the previous year and was focused on consolidating this higher earnings range.

“Fyffes continues to pursue the necessary increases in selling prices in all markets to offset the impact of cost inflation, including higher fruit costs and adverse exchange rate movements, as a result of dollar strength against both sterling and the euro,” it said.

Fyffes said it was actively reviewing a number of development opportunities in order to continue to grow the group’s shareholder value without elaborating.