Courtesy Fresh Del MonteThe only Fresh Del Monte business segment to post an increase in net sales for the second quarter of 2012 was the fresh-cut program. Fresh-cut produce was the single business segment to post net sales increases for Fresh Del Monte in the second quarter, which showed the company’s top line item of bananas with a 9% net sales decrease.
Overall though, the Coral Gables, Fla.-based company posted higher earnings during 2012’s second quarter, compared to 2011, and beat predictions from analysts. Del Monte officials discussed the quarter during a conference July 31.
“We are extremely pleased with the strong earnings growth,” said chairman and chief executive officer Mohammad Abu-Ghazaleh, downplaying a 7.9% decrease in net sales.
The fresh-cut program holds promise, Abu-Ghazaleh said, in virtually all regions of the world.
“We began in Saudi Arabia less than two years ago and as we speak we are increasing and growing stronger in fresh-cut markets and juices in the Middle East,” Abu-Ghazaleh said.
He said Fresh Del Monte would increase its offerings of added-value fresh produce in the Mid-East by the end of this year.