Fruit company Fyffes has put its recovery from the doldrums down to a recovery in market conditions and rapid cost cutting.
Speaking at the company’s AGM today, Fyffes chairman Mr Neil McCann praised management for its swift reaction to cut €20 million in costs in the face of deteriorating market conditions.
But he warned the strength of the dollar is still having a significant impact on the cost side of the business.
He said the company will continue to seek the price increases necessary to offset the higher costs arising from the strong dollar, while at the same time pursuing further savings in supply and operating costs.