Profits at Del Monte UK have crashed 96% after the company ditched imported fruit lines deemed not commercially viable.
Pre-tax profits at Del Monte UK fell to £117,000 in the year to 31 December 2010, while turnover was down 21.6%, to £109.8m, on the 53 weeks to 1 January 2010.
Reduced imports of fresh fruit were chiefly to blame, according to Del Monte's directors. "The company has withdrawn from supplying fruit that is uneconomical due to inflationary factors that cannot be recovered from higher prices," they said. The 2010 turnover was similar to that of 2008, they added.
In June, Del Monte unveiled a new Love Fresh umbrella brand of prepared fruit and salads. It is targeting sales of about £20m within the first three years.
Del Monte UK produces fruit and salads as well as operating as a banana ripener and an importer, distributor and seller.
Pre-tax profits at Del Monte UK fell to £117,000 in the year to 31 December 2010, while turnover was down 21.6%, to £109.8m, on the 53 weeks to 1 January 2010.
Reduced imports of fresh fruit were chiefly to blame, according to Del Monte's directors. "The company has withdrawn from supplying fruit that is uneconomical due to inflationary factors that cannot be recovered from higher prices," they said. The 2010 turnover was similar to that of 2008, they added.
In June, Del Monte unveiled a new Love Fresh umbrella brand of prepared fruit and salads. It is targeting sales of about £20m within the first three years.
Del Monte UK produces fruit and salads as well as operating as a banana ripener and an importer, distributor and seller.
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