With 70 per cent of its banana costs in US dollars, Fyffes (FFY) will push through price increases over the next three to four months to offset the strength of the greenback against both sterling and the euro, according to chairman David McCann. He also said the group was "actively pursuing a promising number of attractive acquisition opportunities".
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These comments came as the banana, melon and pineapple purveyor reported a stellar 2014, with adjusted operating earnings up 28 per cent to €40.1m as a result of volume growth and improved efficiency at its farms. Despite the forecast currency drag and cautious outlook, management has retained full-year operating profit guidance of between €36m and €42m.
