Summer heatwave hits sales at Fyffes

Fruit distributor Fyffes said today the heatwave that sent temperatures soaring across Europe this summer depressed sales for…

Fruit distributor Fyffes said today the heatwave that sent temperatures soaring across Europe this summer depressed sales for fruit.

But it said this seemed to be a temporary phenomenon and that sales have since returned to normal.

In its interim results published today Fyffes said the heatwave cost the company as much as €8 million in lost sales. Overall the company reported pre tax profits of €42.3 million in the first six months of the year, a rise of 8.8 per cent on the same period in 2002.

Turnover of €1,018.1 million was bolstered by the recent acquisitions of fruit distributors in Germany and the Czech Republic.

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In the banana division, volumes in the period were ahead of last year but market conditions were generally less favourable than in 2002 due to higher shipping costs associated with the higher oil prices.

Fyffes - which has recently secured permission for a 300,000 square-foot town centre development on its 26-acre site in Dundalk - declared an interim dividend of 1.39 per cent, an increase of 9.9 per cent on last year.