Fresh Del Monte harvests healthy sales totals

Fresh Del Monte Produce Inc, producer, marketer, and distributor of fresh and fresh-cut fruit and vegetables, reported financial results for the second quarter and six months ended July 1, 2005.

Net sales increased 21% to $922.8 million for the second quarter, compared with $763.6 million for the same period a year earlier, including a $90.0 million contribution from the firm's prepared food business. Year-to-date net sales climbed 19% to $1,761.3 billion, versus net sales of $1,477.4 billion for the same period in 2004.

Gross profit for the second quarter of 2005 rose to $103.5 million, compared with $89.1 million in the same period a year ago, including $17.0 million contribution from the company's prepared food business. For the first six months, gross profit was $220.5 million, in contrast to $166.3 million a year earlier.

Net income totaled $46.5 million for the second quarter of 2005, compared with net income of $59.4 million for the same period a year ago. For the first six months of 2005, net income was $104.4 million, versus $106.4 million in 2004.

TAGS: Foodservice
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