Fresh Del Monte harvests bountiful net sales

Fresh Del Monte Produce Inc, producer and distributor of fresh and fresh-cut fruit and vegetables, prepared fruit, and vegetables, reported solid financial and operating results for the fourth quarter and year ended Dec 31, 2004.

Net sales for the 2004 fourth quarter were $818.2 million, compared with $578.7 million for the same period a year earlier. For the year, net sales rose to $2.9 billion from $2.5 billion in 2003.

Net income for the 2004 fourth quarter was $19.1 million, versus $22.8 million in the fourth quarter of 2003. Fresh Del Monte's annual net income was $139.2 million, compared with $226.4 million in 2003.

Gross profit for the 2004 fourth quarter was $67.6 million, in contrast to gross profit of $46.9 million in the fourth quarter of 2003.