Fresh Del Monte Produce Inc. (FDP) Monday announced a swing to profit in the fourth quarter, compared to the prior year.
Quarterly earnings were $20.4 million or $0.42 per share, compared to loss of $106.4 million or $2.22 per share last year.
Net sales for the vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables increased to $1.013 billion from $1.008.6 billion in the prior year.
The company said the increase in net sales was driven by higher net sales in fresh and value-added products segment, primarily due to higher per unit selling prices.
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