Fruit distributor Fyffes sees first quarter revenues rise
Adjusted earnings before interest, taxes and amortisation up 14.9% at €16m
Fyffes said that based on its positive start to the year, it is maintaining its €30 million to €35 million target Ebita range for the full-year.
Fruit distributor Fyffes, which held its annual general meeting yesterday, recorded total revenues of €306.5 million for the first quarter, up 3.4 per cent on the €296.5 million reported for the same three-month period a year earlier. The company said group revenue, which excludes Fyffes share of joint ventures, was up 5.4 per cent to €256.7 million from €243.4 million.
Chairman David McCann said that in relation to Fyffes’ proposed merger with rival Chiquita, which was announced in March, a registration statement on Form S-4 has been submitted to the SEC in the US and will be circulated to shareholders once it has been declared effective by them.