Fyffes plc has reported an improved trading performance in the first four months of the year, particularly in continental Europe.
The Irish firm said it is enjoying a positive year to date, but issued a warning that it will need to achieve higher prices than last year to beat the soaring cost of fruit and fuel, and meet its full-year growth targets.
“The increase in profits in 2008 will be significantly weighted towards the first half of the year, taking account of the relatively more difficult market conditions in the early part of last year,” said Fyffes.
The company’s medium term strategic plan is to double the size of the business by 2011.
As announced previously, boss Jimmy Tolan will resign as chief executive this week, but continue as a non-executive director.