Dole Food Posts 11% Profit Increase

Dole Food Co. said its fiscal second-quarter profit rose 11% as sales of bananas and pineapples increased and the company raised prices.

Profit from continuing operations in the quarter ended June 16 rose to $50 million, or 90 cents a share, from net income of $45 million, or 81 cents, a year earlier. In April, the biggest fruit and vegetable producer said it would earn 55 to 65 cents. Sales fell to $1.23 billion from $1.24 billion.

Dole shares fell 83 cents to close at $19 on the NYSE. They have risen 16% this year.