2014 difficult year for Fyffes on British market
2014 was not the best year for multinationals Fyffes on the British market. Revenue fell by 4.8%, th…2014 was not the best year for multinationals Fyffes on the British market. Revenue fell by 4.8%, the cost of sales fell by 5.3% and operational expenses rose by 4.1%; which all led to a decline in profits. These figures, which only account for the UK in 2014, can be found in reports that were made public by the UK's Companies House.
Revenue fell to 273.5 million pounds in 2014, from 287 million pounds in 2013. Gross profit rose from 15.2 million pounds in 2013 to 16 million pounds in 2014. There appeared to be a shortage in the bottom line, with 11.7 million pounds in the red. In 2013 the loss amounted to 741 pounds.
The loss is partly due to a non-recurring item that cost 11.9 million pounds. The Fyffes Group did make a profit last year. The multinational's net income was 34.1 million Euro. Turnover amounted to more than one billion Euro.