Higher costs and unfavourable foreign exchange rates resulted in a drop in profits for US fruit and veg group Fresh Del Monte Produce.
Go deeper with GlobalData
The company earned US$29.3m in the three months ended 26 September, down from the $29.9m it earned in the same period last year.
Net sales reached $832.9m from $757.1m in the comparable period for 2007, while operating income also saw an increase, reaching $37.9m from $25.9m in fiscal 2007.
Operating income reached $37.9m from $25.9m in the comparable period last year.
“We made significant gains in the third quarter despite the fact that we continued to experience higher fruit production, procurement and logistic costs. This quarter’s performance once again demonstrates our mandate to control expenditures, improve efficiencies, and increase profitability,” said Mohammad Abu-Ghazaleh, chairman and CEO of Fresh Del Monte.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
