Fyffes has posted preliminary results for 2010 ahead of expectations. Profits before tax were up 0.2 per cent on 2009 to €21.3 million, although this excludes its share of Irish property firm Balmoral’s €30m fall in value of net assets.
Fyffes has a 40 per cent share of the after-tax losses of Balmoral (formerly Blackrock) in 2010.
This share amounted to some €8.3m.“In the context of exceptionally difficult trading conditions which persisted in the banana category for much of the first half of the year, this result represents a very satisfactory outcome for 2010,” Fyffes chairman David McCann said.
