CORAL GABLES, FL - Del Monte Fresh released the results of its second quarter for the fiscal 2015 year this morning, stating that it was pleased to report steady results after a few potential speed bumps in the recent quarter.

"We are pleased to report solid second quarter results despite the negative year-over-year exchange rates in Europe and Asia and weather related issues that impacted production for some of our products,” Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer of Del Monte Fresh Produce, said in a press release. “Our results reflect momentum in our global value-added fresh-cut product line, increased penetration within our existing distribution channels, and flexibility to deliver to markets with the strongest demand.”

 

A photo posted by Del Monte Fresh Produce (@delmontefresh) on Jun 27, 2015 at 9:03am PDT

The company saw steady net sales compared to this time last year, reflecting $1.134 billion, compared with 2014’s $1.131 billion. As for gross profit, Del Monte Fresh saw a .94% decrease to $114.0 million from 2014’s $121.5 million. According to the company, this was attributable to a combination of lower selling prices in several product lines and an increase in fruit production costs in Del Monte Fresh’s banana and other fresh produce business segments.

Other highlights included:

• Bananas net sales for the second quarter increased 2% to $513.8 million, compared with $505.1 million in 2014.
• Banana volume was 5% higher than 2014’s corresponding period, with unit cost at one percent lower than last year.
• Banana gross profit for the quarter was $44.6 million, compared with $49.9 million in the second quarter of 2014.
• Other fresh produce net sales for the second quarter increased 1% to $523.7 million, compared with $518.2 million in  2014’s corresponding period.
• Gross profit for other fresh produce in the quarter was $54.9 million, a .99% decrease compared with gross profit of $55.7 million in the second quarter of 2014.

Fresh-cut net sales increased 16% and non-tropical net sales both increased 6%, while net sales for melons decreased 8% and tomato net sales decreased seven percent.

 

A photo posted by Del Monte Fresh Produce (@delmontefresh) on Jun 5, 2015 at 1:20pm PDT

Abu-Ghazaleh concluded that the company continued throughout the quarter to capitalize on health and wellness, as well as growing convenience trends in the marketplace with new product initiatives. He added that Del Monte Fresh further invested in its global footprint to increase value-added production.

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