Fyffes increases earnings target

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Carl Collen

BY CARL COLLEN

Fyffes increases earnings target

Group raises its 2016 earnings targets following Highline acquisition

Fyffes increases earnings target

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Fyffes has increased its 2016 target earnings range following the acquisition and expected impact of the recent purchase of Canada's largest mushroom company, Highline Produce.

As a result, it's revised EBITDA is up to €63m-€69m from €54m-€60m, its EBITA is up to €49m-€55m from €42m-€48m, and its revised earnings per share now stand at 12.8-14.5 cent.

The group said that, overall, its existing business had performed in line with expectations so far this year.

"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."

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