Fyffes has raised its earnings growth target for 2009, claiming that favourable market conditions have outweighed higher input costs.

The Irish firm has increased its earnings forecast before interest and tax to between €16 million (£9.7m) and €20m.

This is up from earlier targets of €14m-18m, which had been based on increases in selling prices in all markets to offset the impact of cost inflation and less favourable exchange rates.

The revised forecasts excludes the impact of the group’s 40 per cent stake in Blackrock International Land.

In a statement, Fyffes said increased input costs had been offset by "generally favourable market conditions" over recent months. “The group has achieved increases in average selling prices and has benefited from the positive impact of its currency hedging,” it read.

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