Fresh Del Monte Q2 Profit Up

(RTTNews) - Fresh Del Monte Produce Inc. (FDP) Tuesday posted higher earnings for the send-quarter, reflecting 11 percent increase in net sales.

The company's net income rose to $64.3 million or $1.15 per share from $62.0 million or $1.10 per share a year ago.

On a comparable basis, the group earned $1.19 per share. Analysts polled by Thomson Reuters expected the company to reported earnings of $1.00 per share for the quarter. Analysts' estimates typically exclude special items.

Operating income rose to $75.3 million from $51.2 million last year.

As a result of higher sales volume in all of the company's business segments, net sales for quarter increased 11 percent to $1.13 billion from $1.02 billion in the second quarter of 2013. Analysts estimated revenue of $1.05 billion.