Irish-based produce multi-national Fyffes is considering purchase of some of its own shares.

Under the authority granted by shareholders at its Annual General Meeting on 13 May 2010, Fyffes plc is authorised to purchase up to 10 per cent of its issued share capital.

"Having taken into account the current share price, other investment opportunities, the company’s overall financial position and the potentially positive effect on earnings per share, the board believes that it may be opportune to exercise this share buy back authority in circumstances where suitable tranches of shares are available," the company said in a statement today.