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Fresh Produce

Fyffes Announce Sixth Consecutive Year of Growth

Fruit distributor Fyffes has announced results of a 28.1% increase in Earnings Before Interest and Taxes (EBIT), and a 26.6% increase in Earnings Per Share (EPS) in its preliminary results for 2014.

The company’s EBIT for the last year now amounts to €40.1 million, with its shares now valued at 11.17 cent.

These figures signal the sixth consecutive year of earnings growth, and a final dividend increase of 12.3%.

Total revenue, including the Group’s share of its joint ventures, increased by 0.8% in 2014, to €1.1bn

The increase in the group’s 2014 turnover reflected an organic volume growth in the pineapple and melon categories, offset by a general price deflation in bananas and pineapples.

David McCann, Chairman of Fyffes commented, “Fyffes is pursuing necessary increases in selling prices in all markets in response to the significant strengthening of the US dollar against the euro and sterling in recent months.”

McCann added, “The Group is focused on continuing to grow the business and is actively pursuing a promising number of attractive acquisition opportunities.”

© 2015 - Checkout Magazine by Hannah Popham.

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