Dive Brief:
- Fresh Del Monte reported a $58.6 million profit in the first quarter this year, up from $41.1 million in 2013.
- The company, which grows and ships produce around the globe, cited sales jumps in key markets for the results.
- Revenue climbed 6.9% to $982.3 million in the quarter.
Dive Insight:
There are some items in Fresh Del Monte's earnings worth noting. First, despite global problems in the banana trade, Fresh Del Monte saw its sales of the fruit rise 7.6%. Secondly, the climb remarkably appears to be due to both an increase in the price Fresh Del Monte got for bananas and an increase in sales volume.
It's a great performance in this environment. But it begs the question: Can Fresh Del Monte, or any other of the smaller players in the banana trade, have a performance like that after regulators approve a merger between Chiquita Brands and Fyffes?
