Flood damage in Guatemala hits second quarter profits of Fresh Del Monte Produce
Tuesday, August 3, 2010
Harsh weather in Guatemala, higher fuel costs and the weakness of the global economy continued to present challenges for Fresh Del Monte Produce.
The Coral Gables-based company said its second quarter net income fell nearly 60 percent to $21.1 million from a year ago.
Excluding asset impairment and other charges caused by the exit of business in South Africa and Brazil, and flood damage to the company’s
Guatemala banana production operations, the company reported earnings per share of 85 cents in the second quarter, down from $1.11 in the second quarter of 2009.
Original source: South Florida Business Journals