Chiquita boosted by improved sales

Chiquita has reported an increase in both fourth quarter and full year sales for 2007.

Leading fresh produce group Chiquita has delivered improved results for the fourth quarter and full year of 2007, following the company's decision to restructure major sections of its business.

In a statement released this week, the US-based group revealed that its fourth quarter year-on-year sales had risen by 6 per cent to over €812m. Chiquita's full year year-on-year sales rose by 4 per cent to more than €3.1bn.

The improved results come in the wake of a major restructuring programme, which the group began implementing last October. The company said the changes, together with the launch of "innovative, higher-margin products" should deliver further improved results this year.

"Our estimated fourth quarter results reflect an improved year-on-year operating performance, despite a rising cost environment," Chiquita chairman and chief executive officer Fernando Aguirre said in the statement.

"In addition, our business restructuring announced in October 2007 remains on track to deliver our targeted savings in 2008," he added.