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Unexpected losses for Chiquita
United States
Tuesday 04 May 2010
FJ
After its unexpected losses, Chiquita makes of the restoration of its profitability in Europe its priority for 2010.
Chiquita Brands International Inc's results surprised the analysts and the professionals of the sector.
Chiquita indicated a loss of 9 million dollars for the first quarter and reduces its forecasts of income 2010. The turnover should increase from 1 % to 3 % with regard to 2009, instead of the 3 to 5 %.
These bad results would result from the European demand which fell this winter. The difficult weather conditions, with the worst winter for 30 years, and the economic recession affected sales.
The sales of the first quarter fell with 4 % with regard to the first quarter 2009. The North American prices increased by 3,9 %, whereas the prices in Europe fell about 11 % with regard to what they were during the first quarter 2009.
The European market remains essential for the Chief Executive Officer Fernando Aguirre who declared: "the revitalization of our profitability in Europe in 2010 is our most important priority."
Source: week business and cincinnati courier
source : business week et cincinnati courier
