Fyffes has warned that its full-year profit expectations have changed amid rising costs and exchange rates, despite reporting a sharp increase in half-year profits.
The Dublin-based group said adjusted pre-tax profit rose to £15.7 million in the six-month period, up from £12.1m.
Group revenue, excluding share of joint ventures, rose 5.6 per cent to £302.0m.
The results were helped by increased selling prices and favourable exchange rates.
However, the group claimed that “the increases in selling prices needed to offset further increases in costs, and less favourable exchange rates, are not currently being achieved.
"Fyffes believes it can achieve an improved performance in 2009, assuming higher industry costs are recovered through increases in selling prices in all markets," it added.
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