Del Monte posts higher sales but drop in profits

US giant Fresh Del Monte has announced net earnings for 2004 of $139.2 million, compared with $226.4 million in 2003. The company blamed the drop in profits to higher commodity costs and adverse weather conditions. Sales for the year increased to $2.9 billion from $2.5 billion which the company attributed to stronger demand for fresh-cut produce, higher volumes in non-tropical fruit and tomato product lines and the acquisition of Del Monte Foods Europe.