Last July, FUNDAHRSE carried out an audit of Sol Group’s operations in southern Honduras to evaluate the company’s compliance with seven key indicators of the INDICARSE tool, an international guide on corporate social responsibility, obtaining an average score of 96%. The results were as follows:

• Governance: 97%
• Human Rights: 100%
• Labor Practices: 92%
• Environment: 93%
• Fair Opera-ng Practices: 99%
• Consumer Affairs: 100%
• Community Participation: 99%

Since 2021, Sol Group in Honduras has gone through an exhaustive transformation process in which social responsibility, including labour relations, the environment, surrounding communities, and human rights have been the centre for implementing new practices and developing new policies.

Michael Fletes, Sustainability Coordinator of Sol Group in Honduras, played a key role during the rigorous FUNDAHRSE audit and commented: “We are very proud for being recognised as a socially responsible company for a second year. This demonstrates our commitment and our progress in integrating sustainable practices in the different areas of our organisation. We will continue working each day to further contribute to the wellbeing of the world, our workers, communities, and other stakeholders.”

Genivaldo Pereira, General Manager of Fyffes/Sol Group, added: “This recognition reflects our policy to act as socially responsible company together with the communities in the different areas where we operate in Honduras. It also demonstrates our commitment to driving sustainable economic development in Honduras through the creation and promotion of an inclusive, equitable and prosperous environment. FUNDAHRSE’s Seal renews our commitment to continue working on the three fundamental pillars of corporate social responsibility that encompass economic, social, and environmental responsibility.”

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The company, formed in July through the merger of Total Produce and US rival Dole Foods, said that its pro-forma adjusted earnings before interest, tax, depreciation and amortisation (ebitda) declined by 35.4 per cent to $59.7 million (€52.8 million). Pro-forma revenue rose by 0.3 per cent to $2.3 billion.

However, for the first nine months of the year, revenue rose 4.5 per cent to $7.1 billion, while ebitda rose by 12.6 per cent to $337.7 million.

“Dole plc has delivered a strong performance for the first nine months of 2021 in the context of inflationary pressures across our North American and European markets during the third quarter,” said group executive chairman Carl McCann.

“With industry wide supply chain congestion and labour shortages, our diversified business model has proven itself to be responsive and resilient.”

Dole is targeting revenue in the range of $9.2 billion-$9.4 billion and ebitda of $390 million- $400 million for the full year.

The company’s largest division by sales and earnings, Dole Fresh Fruit, posted a 0.8 per cent dip in revenues in the third quarter with lower banana volumes in North America and banana pricing in Europe.

Ebitda in the division dropped by 53 per cent on the year due to lower revenue and higher transportation costs in North America, input materials increases, as well cost pressures from the ongoing supply chain impact caused by hurricanes in Honduras and Guatemala in November 2020.

Dole Fresh Vegetables’s ebitda for the third quarter plummeted by 90.8 per cent, due primarily to the impact of inflation in inland transportation as well as in packaging and labour and the persistently weak, oversupplied fresh packed vegetables market, it said.

The group has been pushing up prices for its value-added salads customers to help counter its rising costs.

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