Fyffes (AIM:FFY) – no slip ups from the banana distributor
The leading importer and distributor of tropical produce (bananas, pineapples and melons), which is dual listed on the Irish Enterprise Securities Market (ESM) as well as AIM, reported excellent interim results for six months ended 30 June 2015. Unusually for an AIM listed company it also offered earnings guidance for the full year.
Group revenue for the 6 months ending 30th June 2015 rose 8.7% to €644.3m with diluted adjusted eps up 12.2%.
Cash generation was very strong with operating profit of €31.1m resulting in an operating cash inflow of €39.1m with the Group moving from a net debt position of €11.7m at the beginning of the year to a net cash position of €18.6m at 30th June 2015. All very positive on the debt front although…
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