Finely grate the coconut in a blender with 1 cup of water. Strain the coconut from the water. Set the water aside.
In a separate bowl, mix together the grated coconut, sugar and egg. Cut in the butter. Mix well. Add the Angostura bitters and mixed essence.
Sift together the flour and baking powder. Mix in the nutmeg and cinnamon. Blend together the coconut mixture, coconut water, and flour mixture. Blend to make a soft dough.
Add the mixed fruit, raisins, and cherries to the dough. Mix well. Pour in greased dish and bake for 350 degrees F. for about 52 minutes or until a knife inserted in the center comes out clean.
If you want to add a glaze to the sweet bread. All you have to do is, mix a little bit of water and sugar and brush onto the bread. Return the loaf to the oven and allow to bake for another 5 minutes.