Chiquita posts Q3 profit

Chiquita Brands has announced a third quarter profit of US$0.3 million. Net sales were $944 million, an increase of 44 percent on the same quarter last year. The increase was mainly due to the acquisition of Fresh Express. "We doubled our operating income and reported a modest net profit during a quarter in which the company historically has incurred financial losses," said Fernando Aguirre, chairman and chief executive officer. "During the third quarter this year, we managed quite well through various difficult issues, including mitigating the continuing impact of higher fuel, paper and ship charter costs facing the entire industry as well as successfully dealing with logistical challenges from several major hurricanes."