Castle & Cooke’s income dropped 35% to...
Castle & Cooke’s income dropped 35% to $28.4 million in the second quarter, compared to the year-ago period. The Los Angeles-based holding company for Dole Foods, Flexi-Van Leasing and Oceanic Properties blamed a decrease in Dole Foods’ second-quarter earnings due to lower banana prices. In the year-ago quarter, tight supply conditions for bananas improved prices and produced a record profit for Dole.
For the record:
12:00 a.m. Aug. 6, 1987 FOR THE RECORD
Los Angeles Times Thursday August 6, 1987 Home Edition Business Part 4 Page 2 Column 6 Financial Desk 1 inches; 26 words Type of Material: Correction
The Times erroneously reported that Castle & Cooke’s second-quarter income dropped 35%, compared to the year-ago period. The company actually experienced a 26% decline in earnings.
