Chiquita blames Kosovo for poor results


19 May 1999


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)

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