Chiquita Profits Double

NEW YORK - Aug 4/05 - SNS -- Chiquita Brands International, Inc. reported net income of U.S. $63 million on sales of $1,019.4 million during the second quarter ending June 30, compared to a net of $30.2 million on sales of $848.4 million during the same three month period of the previous fiscal year.

This lifted net income for the first half of the current fiscal year to $150.2 million on sales of $1,951.3 million, compared to a net of $50.2 million on sales of $1,641,6 million last year.

Increased sales resulted from higher banana pricing and favorable currency exchange rates in Europe, higher volume in both Europe and North America and increased sales of non-banana produce at Atlanta AG, the company’s German fresh produce distributor.

In the company’s Banana segment, net sales rose to $571 million, up $113 million, and operating income was $73 million, compared to $37 million.

Subscribers can read the full text of the article by Clicking here