LONDON (ShareCast) - Fruit supplier Fyffes (Dublin: FQ3.IR - news) said it expects to post higher profits than last year after lifting
selling prices.
The firm, most famous for bananas, is now targeting earnings of between €16m and €20m for 2009, compared with €15.3m last year. It had earlier indicated a target of €14m to €18m.
While input costs have been about 20% higher than last year, Fyffes said market conditions have been generally favourable in recent months, particularly in Continental Europe. It has benefited from increased selling prices and the impact of currency hedging.
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