Fresh Del Monte Produce's Q2 net sales up

Jul 30, 2008 (Datamonitor via COMTEX) -- FDP | Quote | Chart | News | PowerRating -- Fresh Del Monte Produce, a food company, has reported net sales of $972.2 million for the second quarter ended June 27, 2008, compared to $924.2 million for the same quarter of 2007.

Net income was $41.9 million, or $0.66 per diluted share, compared to $63.9 million or $1.10 per diluted share for the corresponding period in 2007.

For the first six months ended June 27, 2008, net sales were $1.87 billion, compared to $1.76 billion in the same period of 2007. Net income was $105.5 million, or $1.66 per diluted share, compared to $115.5 million, or $2 per diluted share for the corresponding period of 2007.

Mohammad Abu-Ghazaleh, Fresh Del Monte's chairman and CEO, said: "The second quarter was an exciting period for Fresh Del Monte in setting the stage for future growth. The second quarter was also a challenging period, with significantly higher costs that were only partially offset by strong price increases, as well as several adverse weather-related events."

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