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Fyffes maintains its objective
Ireland
Wednesday 28 April 2010
FJ
Fyffes maintains its objective in spite of the difficult conditions of the market.
A few days after its annual report, Fyffes Company makes some comments on the difficult conditions of the market and maintains the announced objective.
Fyffes had announced a profit between 14 and 18 million euros for 2010, sharply lower than the previous forecasts. These results will be reached if the reform of the European Union on the levy of bananas imports is effectively organized.
What seems to take place as expected in this beginning of year, and will allow a reduction of the Fyffes invoice about 100 million euros a year.
The group Fyffes considered that the conditions of the market this year were unfavourable and difficult: "the sale prices, in particular in continental Europe, were weaker than planned ".
Sales slowed down in Europe, the long and rigorous winter has reduced the demand and the consumption. The market price fell of 20 %.
Fyffes maintains its forecast of profits and will adjust the sale prices and the costs. The Group reduced the volumes of import and the additional reductions are planned during the rest of the year.
source : fyffes et irish independent
