Fyffes's property spin-off Blackrock International Land has reported profits of €13.9 million for 2006.
The company - which started operations in May - said its goss property assets grew by 87 per cent to €369 million as a result of investments and increases in value.
It said net assets at period end were €220.9 million, up 6.8 per cent from commencement, equivalent to €37.88 cent per share.
Blackrock said it was targeting further investment expenditure of €200 million over the next one to two years and gross property assets of €1 billion in four to five years.
