Fresh Del Monte Produce sales flourish

Oct. 27, 2004
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.

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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