Fresh Del Monte Back in Black

NEW YORK - Jul 31/07 - SNS -- Fresh Del Monte Produce Inc. reported an after tax net income of U,.S. $63.9 million on sales of $924.2 million for the second quarter ending June 29, compared to a loss of $17 million on sales of $907.1 million during the same three-month period last year.

This lifted after tax net income to $115.5 million on sales of $1,760.2 million, compared to a loss if $500,000 on sales of $1,747.1 million during the first half of the previous fiscal year.

Fresh Del Monte's Chairman and Chief Executive Officer, Mohammad Abu-Ghazaleh said, "Our second quarter performance, which was the strongest in four years, is a further validation of the success of our strategy and of the performance-improving initiatives we put in place last year. In addition, better results in our 'Banana' and 'Other Fresh Produce' businesses, as well as improved efficiencies in our global operations, collectively helped to drive this robust performance. Today, Fresh Del Monte is a company that is focused and committed to profitable growth."

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