US fresh fruit producer Chiquita Brands International has posted a quarterly profit, compared to a year-ago loss, helped by higher sales volumes, cost cuts and one-off gains.
The Cincinnati-based company reported profit of US$9.9m, or 25 cents a share, for the third quarter to 30 September, compared with a net loss of $8.2m, or 21 cents a share, in the year-ago period.
Sales rose 90% to $636.6m, boosted by the March acquisition of German distributor Atlanta, as well as higher sales volumes of bananas, grapes and pineapples, reported Reuters.
The company said it will start selling cut, packaged fresh fruit next month.
“This puts us at the centre of two major trends in food – health and convenience,” chief executive Cyrus Freidheim was quoted by Reuters as saying.