A fall in costs pushed up half-year profits at Fresh Del Monte Produce despite the US company reporting lower sales.
Fresh Del Monte said today (31 July) its first-half net income was US$119.7m, up from $90.4m a year earlier.
The higher profits came despite a 7.9% in net sales to $1.86bn. Sales fell across Fresh Del Monte’s business segments.
“The strength of our operations, logistics flexibility, prudent product supply management, and our expanded global customer base were key contributors to our performance,” chairman and CEO Mohammad Abu-Ghazaleh. “We remain focused on the bottom line, long-term growth and our established cost savings program to increase shareholder value.”