Fresh Del Monte Produce Turns Around To Profit In Q4

(RTTNews) - Fresh Del Monte Produce Inc. (FDP) Monday announced a swing to profit in the fourth quarter, compared to the prior year.

Quarterly earnings were $20.4 million or $0.42 per share, compared to loss of $106.4 million or $2.22 per share last year.

Net sales for the vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables increased to $1.013 billion from $1.008.6 billion in the prior year.

The company said the increase in net sales was driven by higher net sales in fresh and value-added products segment, primarily due to higher per unit selling prices.