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Dole cuts its full year earnings forecast

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Fresh produce company Dole has reported higher revenues and earnings for the three months to the end of June but said it was cutting its full year earnings forecast.

Total Produce completed the acquisition of the remaining 55% of Dole Food Company to create Dole plc last year.

But"due to a slower than anticipated return to full operating profitability in our Fresh Vegetables segment and the translation impact from the strengthening US dollar, we are now targeting adjusted EBITDA in the range of $330m to $350m for the full year, a reduction of approximately 5.5% from prior guidance," Mr McCann said.

The company also said that the global economic environment remains uncertain and complex and it is seeing positive trends along with some further challenges for the remainder of the year.

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