Fruit distributor Fyffes has announced results of a 28.1 per cent increase in Earnings Before Interest and Taxes (EBIT), and a 26.6 per cent increase in Earnings Per Share (EPS) in its preliminary results for 2014.
The company’s EBIT for the last year now amounts to €40.1 million, with its shares now valued at 11.17 cent.
These figures signal the sixth consecutive year of earnings growth, and a final dividend increase of 12.3 per cen.
Total revenue, including the Group’s share of its joint ventures, increased by 0.8 per cent in 2014, to €1.1bn
The increase in the group’s 2014 turnover reflected an organic volume growth in the pineapple and melon categories, offset by a general price deflation in bananas and pineapples.
David McCann, Chairman of Fyffes commented, “Fyffes is pursuing necessary increases in selling prices in all markets in response to the significant strengthening of the US dollar against the euro and sterling in recent months.”
McCann added, “The Group is focused on continuing to grow the business and is actively pursuing a promising number of attractive acquisition opportunities.”
