Fresh Del Monte Produce Inc. announced on Monday a significant loss for the fourth quarter, totaling $106.4 million, or $2.22 per share. This is a stark contrast to the profit of $18.3 million, or $0.38 per share, they reported in the same quarter a year earlier. The loss was primarily attributed to a decrease in revenue.
When exclusionary items are accounted for, the company's profit reaches $11.8 million or $0.25 per share. However, this is still considerably lower than the previous year, which saw profits of $21.5 million, or $0.45 per share.
Sales also experienced a slight decrease for the quarter, dropping from $1.040 billion in the prior year's period to $1.009 billion. This downturn appeared to be driven by reduced sales in the banana sector and other products and services segments.
