UK banana importer MMD is finally set to break even this year, according to The News, for the first time since it was acquired by Portsmouth City Council in February 2008.
The Council has reportedly had to invest close to £3.5m (€4.15m) to keep the business afloat.
In a new import deal, MMD was able to take over Del Monte's fruit cargo from Dover last Wednesday, bringing an additional 1,000 tonnes a week starting from the New Year and worth approximately £1m (€1.19m) a year.
Port manager Martin Putman, who is also a director of MMD, commented: 'This is part of a business plan we've been working on for years. Now this year we expect it to be spot on in terms of having no net loss to the council. Then in 2011 to 2012, the city council will be in net benefit. By 2012 to 2013, we hope to be seeing real profit.'
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