Fyffes increases its target earnings for 2016
Fyffes has increased its target earnings ranges for 2016 and has said that its existing business has performed in line with their expectations so far for 2016.
In a trading update, the company said it was now expecting earnings of between €63m-€69m compared to previous estimates of €54m-€60m. It had reported earnings of €56.1m for last year.
Earnings per share are also set to rise to between 12.8 to 14.5 cent compared to an earlier forecast of 11.4 to 13.1 cent.
Fyffes said the increased forecasts include the expected impact of the recent deal to buy Canada’s largest mushroom company, Highline Produce.
“Fyffes remains confident about its future prospects, including the performance of its new mushroom business, and continues to focus on its ongoing development with a view to increasing shareholder value,” the company added.
