Fresh Del Monte has seen net income dip for the third quarter of the year, the result of an absence of foreign exchange gains and despite slight growth in net sales.
For the July-September period, net income came in at US$12.2 million, the group reported, down from the $14.5m in the same period last year.
Net sales rose to $795.2m from $793.1m last year, primarily due to expanded sales in the company's fresh produce business along with contributions from its North American banana business, although this was partially offset by lower sales in the prepared food segment.
Indeed, banana sales climbed $5m to $375.1m year-on-year, with selling prices growing in North America and volumes also increasing by six per cent.
For other fresh produce, sales were up two per cent to $337m, with upward movement in pineapples (up nine per cent) and fresh-cut (up 18 per cent), although there were net sales falls for melons (down 28 per cent) and tomatoes (down 32 per cent).
Group chairman and CEO Mohammad Abu-Ghazaleh said: "Given the global economic uncertainty and its impact on consumer markets, I am pleased with Fresh Del Monte's solid operating results for the third quarter.
"Our performance was driven by three major factors: We balanced product supply with market demand in spite of competitive and economic pressures throughout the world. We controlled costs while improving our operating efficiencies through our continuous process improvement model, and thirdly, we succeeded in expanding sales to non-traditional food channels and sustaining our growth in emerging markets."
He added: "We remain committed to executing strategies that focus on prudent investment in growth markets and delivering shareholder value through efficiency improvements throughout our operations, while maintaining our commitment to further enhancing product quality and service."
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