Chiquita blames Kosovo for poor results
CHIQUITA Brands, the US banana producer and distributor, blames the Yugoslavian war for expected poor results.
It expected second-quarter results to be “significantly lower” than the $53 million (£33m), or 66¢ a share, which it made in the same quarter last year.
Chiquita said that “significantly lower” banana pricing in Europe – partly due to the Balkan conflict and the depressed Russian market – was the main reason for the earnings shortfall.
- Financial Times 19/05/99 page 30 (News Digest)