Fyffes stands out from the ‘bunch’ with this ‘apPEELing’ update
This morning’s trading update from banana company Fyffes is very ‘apPEELing’ indeed and has seen the Group significantly increase its target for 2015, pushing the share price higher.
The year to data has seen Fyffes continue to perform very well. The currency headwinds had looked to be potentially problematic, but Fyffes increased selling prices accordingly in response. It also continues to improve operational efficiency which demonstrates the robust business model and ability to cope well in tricky market conditions. There have been no slip ups in the US either and while bananas are still the leaders of the bunch for Fyffes, the Group has also experienced success in the recently ended US melon import season. The Group is increasing its target earnings ranges for the full year 2015.…