Fresh Del Monte's profit withers in 2Q
Aug 3, 2006 8:59 AM, from staff and wire reports
Fresh Del Monte Produce Inc reported financial results for the second quarter and six months ended June 30, 2006.
Net sales in second quarter 2006 were $907.1 million, compared with $922.8 million in the second quarter of 2005. For the first six months of 2006, net sales were $1.75 billion, versus net sales of $1.76 billion for the same period in 2005.
Gross profit for the second quarter of 2006 was $71.3 million, down 31% from the same period in 2005. Gross profit for the first six months was $139.0 million, compared with $220.5 million for the same period in 2005.
For the second quarter of 2006, the company had a net loss of $17.8 million, in contrast to net income of $46.5 million in the year-ago period. Fresh Del Monte Produce sustained a net loss of $1.6 million for the first six months of 2006.
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