Fresh Del Monte Produce sales flourish
Oct 27, 2004 11:12 AM, from staff and wire reports
Fresh Del Monte Produce Inc, producer and marketer of fruit and vegetables, reported net sales for the third quarter of 2004 of $610.4 million, compared with $563.7 million in the same period of 2003. Net sales for the first nine months climbed to $2.1 billion from $1.9 billion a year ago. The growth in sales in the quarter and nine months was due primarily to expansion in the fresh-cut and tomato repack segments.
Gross profit for the third quarter of 2004 was $30.8 million, versus a gross profit of $65.0 million for the same period of 2003. For the first nine months, gross profit was $197.1 million, in contrast to $281.3 million for the same period a year earlier.
Net income for the third quarter of 2004 was $13.7 million, versus $34.3 million in the third quarter of 2003. Net income for the first nine months fell to $120.1 million, compared with $203.6 million a year ago.
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