Fresh Del Monte grows net sales in 1Q

Fresh Del Monte Produce Inc reported net sales of $840.0 million for the first quarter of 2006, compared with $838.5 million in the same period a year ago. The increase was driven by greater banana volumes in Asia and higher sales of non-tropical fruit in North America.

The producer, marketer, and distributor of fresh and fresh-cut fruit and vegetables tallied a gross profit of $67.7 million in first quarter 2006, versus $117.0 million in first quarter 2005. Net income for the 2006 first quarter was $16.2 million, in contrast to $57.9 million in first quarter 2005.