The chief of US-based fruit group Chiquita Brands International has expressed his dissatisfaction at the company’s latest results.
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Chairman and CEO Fernando Aguirre said he was “not satisfied” after falling profits during the second quarter caused first-half earnings to slump.
Chiquita, renowned for its banana supplies, saw operating income tumble 38% to US$52.3m during the six months to 30 June, despite sales inching up 2.7% to $2.4bn. Second-quarter profits fell almost 25% to $34.3m.
Despite his disappointment with the results, Aguirre said Chiquita is looking to revitalise the business in the weeks ahead.
“We are taking aggressive actions to address continuing challenging market conditions and expect to reverse the recent trend and begin delivering modest year-over-year improvements in operating results starting in the third quarter,” Aguirre said.
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By GlobalDataChiquita’s profits were hit by “lower results” from its salads and healthy snacks business due to rising costs.
The figures are the latest piece of bad news to the company. Last week, Chiquita received a list of charges from the European Commission over the company’s alleged involvement in a cartel supplying bananas in Europe. Chiquita hopes, however, that it will escape fines after blowing the whistle on the cartel.
In June, Chiquita was hit with a lawsuit that it gave financial assistance to paramilitary organisations accused of murdering over 140 people in Colombia. Chiquita “categorically denies” the allegations.
