Their conference call was one of the most uninspiring calls I have heard in 35 years of investing and managing money...it was difficult to hear any real confidence in their outlook and plans...we may have to push for new management that can actually execute
In the last years banana sales dropped with 20m cases to 122m cases. In 2010 another 10% less bananas sold in Europe. All this with the same number of directors, selling their core activities (f.e. ripening activity in Belgium).
Guidance was NOT amazing. But it wasn't bad. And, the price of the stock recovered by the end of afterhours trading. Tomorrow is another day, and we shall see. The analysts were definitely digging for news of sunny days ahead, and management was very careful to not make promises. There are too many variables in play to even predict what will happen next month. Perhaps the best news was about plans to do some debt refinancing.