Fyffes raises earnings forecast for 2012 - FreshFruitPortal.com

Fyffes raises earnings forecast for 2012

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Fyffes raises earnings forecast for 2012

Dublin-based fruit multinational Fyffes has raised its earnings forecast by €3 million (US$3.9 million) for 2012 following a strong start to the year.

In an announcement, the company said it expects EBITDA of €25-30 million (US$32.4-38.9 million for the year, compared to €23.2 million (US$30 million) in 2011.

The company said it continues to pursue necessary increases in selling prices in all markets, given further cost inflation in early 2012, higher bunker fuel costs and less favorable exchange rates.

"The Group’s performance to date in 2012 and its positive outlook for the full year reflects the impact of further operational efficiencies, a continued focus on costs and returns on the Group’s significant investment in the business in recent years," the announcement said.

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