Chiquita Brands International today released financial and operating results for the third quarter of the year, registering net sales growth.
The company reported net sales of $840 million (£518m) on continuing operations, up seven per cent year on year.
Fernando Aguirre, chairman and chief executive officer, was pleased that the operating results improved over last year. He said: “Our pricing discipline and focus on profitability has improved the year-on-year performance of our banana segment for the fifth consecutive quarter, which more than offset lower results in our salad operations.
“We are making progress on all the elements of our profit improvement plans for salads, including permanent contract pricing and fuel-related surcharges, to deliver better margins over time. Looking ahead, we continue to expect to achieve significantly better operating results for the full year versus 2007.”
Aguirre is confident that Chiquita will continue to perform well, even in the context of the economic downturn.
He said: “Our improved operating performance, strong capital structure and liquidity enable us to remain focused on executing our profitable growth strategy, despite turmoil in global financial markets. While others are restructuring their operations and addressing balance sheet concerns, we have already delivered in these areas and our year-to-date results demonstrate that we are a compelling long-term investment opportunity.”
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