Chiquita Brands International has reported net profit of US$31.7m for the first quarter of 2008, compared with a loss of US$3.4m in the year-earlier period. The rise came on the back of a 7 per cent annual increase in net sales to US$1.3bn. The group attributed this to higher banana prices and the continued recovery of value-added salad sales.
'Our excellent first quarter represents the third consecutive quarter of year-over-year improvements, and illustrates that we continue to take the right actions to drive profitability in our business,' said CEO Fernando Aguirre. “Our brand premium, banana pricing and benefits from business restructuring have enabled us to generate significantly better results.'
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