Earlier this week, Fresh Del Monte announced its fourth-quarter figures for 2018 as well as those for the entire financial year. The multinational has adjusted its Q4 avocado results. Fresh Del Monte released this information in a press release.
Avocado sales dropped by four percent to $65,3 million. This drop in revenue was mainly due to an average 18% decline in prices. Volumes partially compensated for this downward trend. Sixteen percent more avocados were sold but at a unit price that was 28% lower.
In addition to the disappointing annual figures, Fresh Del Monte has decided to postpone the payment of dividends. This payout usually occurs in every quarter. This decision was taken 'in light of the company's credit facility' reads the press statement.