Fresh Del Monte Produce Inc today reported net sales for the fourth quarter of US$816.7m, down from the year-earlier figure of US$872.1m.

The company attributed the decrease to the rationalisation of its melon programme, lower volumes of pineapples due to inclement weather conditions in Central America, and lower sales in the company's other product and services business.

Gross profit, excluding other charges, for the quarter stood at US$40m, down from US$65.1m for the same period in 2009.

The decrease was caused by lower profitability in the company's banana business as a result of higher fruit costs, as well as the negative impact of unfavorable exchange rates in several producing countries.

Mohammad Abu-Ghazaleh, chairman and CEO at Fresh Del Monte Produce, commented: 'During the quarter we continued to reinforce our global business platform with strategic measures to further streamline and enhance our operations, while sustaining what we believe to be one of the strongest balance sheets in the industry. We are seeing signs these efforts are having a positive effect on our operations and we are very optimistic this trend will continue in 2011.'

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