Fresh Del Monte Produce grows financially

Fresh Del Monte Produce Inc, a global producer, marketer, and distributor of fresh and fresh-cut fruit and vegetables, reported financial results for the three months ended April 1, 2005.

Net income for the 2005 first quarter was $57.9 million, compared with $47.0 million in the first quarter of 2004. Net sales were $838.5 million for the first quarter of 2005, an increase of $124.7 million over the $713.8 million reported in the same period last year. The 17% gain in net sales was due to a contribution from the company's prepared foods business, continued expansion in the fresh-cut product line, an increase in worldwide banana pricing, along with favorable exchange rates.