Tuesday, November 13, 2001

Sales, earnings growth seen




        Chiquita Brands International Inc. projected sales increases of 21.4 percent and operating earnings increases of 60.6 percent between now and 2005.

        In documents provided to bondholders for a financial restructuring, Chiquita said more licenses from a settlement with the European Union and other factors would help results.

        The documents were made public Monday. In them, Chiquita projected that sales would increase to almost $2.7 billion in 2005 from $2.2 billion in 2001.

        And earnings before taxes and interest would jump to $265 million from $165 million, officials predicted.

        The estimates were made after the deal with the EU was announced in April, but before the Sept. 11 terrorist attacks. Chiquita emphasized that the projections might have changed since they were provided to bondholders.

        — Cliff Peale

       



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