Fresh Del Monte Produce Inc reported strong financial results for the quarter ended March 30, 2007.
For the first quarter of 2007, net sales were $836.0 million, versus $840.0 million for the same period in 2006. Gross profit for the first quarter of 2007 totaled $99.1 million, compared with adjusted gross profit of $68.0 million for the same period in 2006, a 46 percent increase.
Net income for the first quarter of 2007 was $51.6 million, in contrast to adjusted net income of $16.5 million for the same period a year earlier.
“The first quarter of 2007 was the best quarter we have had in two years,” said Mohammad Abu-Ghazaleh, the firm's chairman and chief executive officer.