Fruit company Fyffes delivered a strong set of half-year results this morning and said it is on course to deliver double-digit earnings growth for the full year.
Fyffes' produce businesses achieved a 15 per cent increase in trading profits to €48.7 million. In addition, the group's property business generated profits of over €14 million.
Total turnover for the first half of the year was €1,042.8 million, compared to €1,000.9 million in the same period last year, an increase of 4.2 per cent.
Adjusted fully diluted earnings per share, excluding the impact of exceptional items and goodwill amortisation, amounted to 9.90 cent in the first half of the year compared to 8.22 cent last year, an increase of 20.4 per cent.
Fyffes also referred to the upcoming trial between Fyffes and DCC in relation to the sale of 31.2 million Fyffes shares in February 2000 is scheduled to commence in December.
The company declared an interim dividend for the year of 1.53 cent per share, an increase of 10.1 per cent on last year. The dividend will be paid on October 4th 2004 to shareholders on the register at September 10th, 2004.