Irish tropical fruit distributor Fyffes warned today it had revised its adjusted operating profit target for 2007 down to about €15 million from €20 million.
"The primary factors giving rise to this reduction are the recent significant increase in bunker fuel prices, which is expected to continue, and higher than anticipated losses in Nolem, our Brazilian winter melon joint venture," the company said.
Fyffes also said banana prices in continental Europe had not recovered as much as it had hoped.