Fresh Del Monte Produce rises as higher prices drive Q4 profit beat

Del Monte

22/02/2023 15:33

** Shares of fruits and vegetables producer Fresh Del Monte
Produce Inc  FDP.N  rise as much as 10% to a more than
seven-month high of $31.35    
    ** Stock last up ~6%, set for best day since May 2021 if
gains hold    
    ** Co reports surprise Q4 profit, helped by price increases
in all segments to offset higher costs  urn:newsml:reuters.com:*:nL8N35255F    
    ** Posts Q4 profit per share of 45 cents, compared with
analysts' estimates for a loss of 5 cents per share -
Refinitiv    
    ** FDP's Q4 revenue rose ~2% to $1.04 bln vs expectations of
$1.03 bln    
    ** Stock rose ~10% in the past 12 months
 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))