Fyffes has posted a strong set of first half results, driven by acquisitions, strong growth in continental Europe and general improvements in all operations.
The fresh produce supplier said improved cost control and higher volume sales of bananas in its tropical produce division had boosted figures.
It said acquisitions had helped, for example that of Everfresh in Sweden, made during the first half of the year, which had already contributed E1.2m to profit.
Fyffes paid E28.8m for 60% of Everfresh and has entered an agreement to buy the other 40% in 2007.
Accounting for disposals, Fyffes delivered pre-tax profit of E60.6m in the six months to June 30, up by 44.2% on the same period in 2003. Even excluding property profits and other extras, the company boasted a 15.1% increase in trading profit, from E42.3m to E48.7m. Fyffes expects to generate cash from further disposals in the medium term.
Chairman Carl McCann said: “Fyffes has the resources to continue to develop and to pursue attractive acquisition opportunities.”