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CORAL GABLES, Fla. - Fresh Del Monte Produce Inc. (NYSE: FDP), a global leader in the production, marketing, and distribution of fresh and fresh-cut fruits and vegetables, has appointed Deema Anani as Chief Commercial Officer for Specialty Ingredients. Anani, who will be based in Dubai, is tasked with driving the commercial growth of the company’s Specialty Ingredients and Innovation division. The company, currently valued at $1.45 billion, has demonstrated strong financial health with a net income of $142.2 million in the last twelve months, according to InvestingPro data.
Anani’s appointment is part of Fresh Del Monte’s strategic focus on its Biomass initiative, which began in 2024. The initiative seeks to convert agricultural residues and byproducts into valuable products that promote soil health, wellness, and contribute to a circular economy. Anani will collaborate with Dr. Nizar Haddad, head of innovation, and Dr. Imad Farhat, who is in charge of specialty ingredients, to lead this effort.
Chairman and CEO Mohammad Abu-Ghazaleh expressed confidence in Anani’s ability to enhance the Biomass initiative, citing her extensive experience in commercial strategy and business development across diverse industries. Anani’s previous role as Chief Commercial Officer at Queen Alia International Airport’s Airport International Group saw her leading various operational sectors, including food & beverage and retail.
With over 20 years of experience, Anani has also held significant positions at Dubai Holding, IBM (NYSE:IBM) Consulting, and Chemonics International. She is an alumna of the American University of Beirut and holds an MBA from the University of Edinburgh.
Fresh Del Monte Produce, known for its DEL MONTE® brand, has a history of over 135 years in the food industry. The company has been recognized for its commitment to sustainability and has been awarded the SEAL Business Sustainability Awards multiple times. It is also the first global marketer of fruits and vegetables to commit to the Science Based Targets initiative. InvestingPro analysis shows the company trades at an attractive P/E ratio of 10.26 and has maintained dividend payments for 16 consecutive years, demonstrating strong shareholder commitment. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at its current price of $30.27.
This move reflects Fresh Del Monte’s dedication to advancing sustainable practices within the industry while pursuing commercial growth. The information regarding Deema Anani’s appointment and the company’s Biomass initiative is based on a press release statement. For deeper insights into Fresh Del Monte’s financial health, valuation metrics, and growth potential, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, Fresh Del Monte Produce Inc. reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company announced earnings per share (EPS) of $0.26, missing the forecasted $0.43, and reported revenue of $1.01 billion, slightly below the anticipated $1.02 billion. For the full year, Fresh Del Monte’s net sales decreased by 1% to $4.28 billion, though gross profit increased by 2% to $358 million. The company also managed to turn around its financials, achieving a net income of $142 million compared to a net loss of $11 million in 2023, and improved its gross margins to 8.4% from 8.1% the previous year.
Additionally, Fresh Del Monte reduced its long-term debt by 39% over the year. The company has been focusing on new product innovations and sourcing expansions, particularly in its pineapple segment, where it remains a global leader. Looking ahead, Fresh Del Monte projects a 2% increase in net sales for 2025, with expectations of improved gross margins in its Fresh and Value Added Segment and the Banana Segment. The company is also preparing for potential international tariffs that could impact its trade, but remains cautiously optimistic about adapting to these challenges.
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