Chiquita has reported a smaller loss than last year as it was helped by an upturn in banana sales as the company looked ahead to a strong 2010.
The banana giant posted a fourth-quarter net loss of $26 million (£16.8m) compared with a loss of $413m in 2009. Net sales at the global company rose five per cent to $879m.
Chiquita expects revenue to rise between three and five per cent in the next full year, suggesting a full-year revenue of between $3.61 billion and $3.68bn.
Chiquita chairman and chief executive Fernando Aguirre said in a statement: "We doubled our profitability in 2009 despite the difficult recessionary environment by focusing on cost control, pricing discipline and relentlessly executing our initiatives.
"We are very pleased with the dramatic turnaround in salads. The sustained profitability of our North America banana business and structural improvements in our salads business helped diversify our company in both revenue and profitability, while reducing volatility.
“Our target is to continue growing both revenue and profits through a combination of pricing discipline, distribution gains, new products and a relentless focus on cost control, while further extending consumer loyalty of our well-known premium brands."
No comments yet