Fresh Del Monte Q2 Earnings Up


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Wed. July 31st, 2013 - by Eric Anderson

<p>Improved sales in all segments of Fresh Del Monte Produce have led second-quarter earnings to rise by 8.4%, though margins were hurt by higher costs.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">The company reported that profits grew from $57.2 million, or 99 cents a share, to $62 million, or $1.10 cents.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">Sales rose by 6.9% to $1.02 billion. Banana sales, constituting 45% of the company’s top line, jumped 7.6% to $457 million. Other fresh produce sales increased 5.4% to $478.3 million while prepared-food sales climbed 12% to $88.6 million.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">Gross margin fell to 10.3% from 12.2%, however, as production and freight costs rose.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.freshdelmonte.com/ " target="_new">Fresh Del Monte</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">