Fresh fruit distributor Fyffes posted a sharp fall in full-year pretax profit.
The company's statutory pretax profit for the year to December 30th declined to €38 million from €105.8 million in 2005.
But group revenue from continuing operations rose to €408 million from €386 million. The company lowered its final dividend to €1.70 cents a share, from €5.20 last time, taking the total for this year to €3.36 cents.
Fyffes said its profits were in line with its expectations given a changed environment due to the new EU banana import regulations.
Assessing the Fyffes results is further complicated by the fact that last year saw the demerger of its property and distribution arms into Blackrock and Total Produce respectively.
Agencies
