Irish fruit importer Fyffes has made a positive start to the year, company chairman Mr Neil McCann told shareholder at today’s AGM.
Mr McCann said the company was beginning to realise the euro 20 million in cost saving last year's restructuring measures.
Commenting on the European fruit market, Mr McCann said: "The situation regarding the future regulation of the EU banana market has also been clarified."
He said supply and demand are broadly in balance at the present time, which should help to secure the price increases necessary to offset the higher costs resulting from the continuing strength of the US dollar.
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"Overall, the trading performance to date is encouraging and is ahead of expectations." Mr McCann concluded.