US: Fresh Del Monte H1 profits down

By: just-food.com | 28 July 2009

Q2 net income up 25% on lower charges
H1 net income down 16%
H1 net sales dip 0.5%

Rising earnings during the second quarter of 2009 has failed to stem a fall in half-year profits at US-based fruit and veg group Fresh Del Monte Produce.

The company today (28 July) reported a 25% jump in second-quarter net income to US$52.9m for the three months to 26 June.

Net sales inched up 0.6% to US$978.4m as Fresh Del Monte's quarterly profit growth was boosted by lower impairment charges this year compared to the second quarter of 2008.

First-half net income fell by almost 16% to US$104.9m. Net sales dipped 0.5% to US$1.87bn.

Click here for the full Q2 statement from Fresh Del Monte Produce. Check back for further coverage and executive comment later.

Sectors: Fresh produce

Companies: Fresh Del Monte Produce