10/30/2013

Fresh Del Monte reported a 9% rise in third-quarter net sales, but booked a 30% decline in gross profit and a 74% drop in operating income. Net banana sales rose 12% on higher prices, but the gains were offset by challenges including an oversupply of bananas, higher fruit and logistics costs and unfavorable exchange rates compared to last year, said CEO Mohammad Abu-Ghazaleh.

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