Fyffes the Irish fruit distributor, has issued a profit warning.
It has revised its adjusted operating profit target for 2007 down to about €15 million from €20 million.
"The primary factors giving rise to this reduction are the recent significant increase in bunker fuel prices, which is expected to continue, and higher than anticipated losses in Nolem, our Brazilian winter melon joint venture," the company said.
Fyffes said banana prices in continental Europe have not recovered as much as it had hoped.
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