Profits from real estate sales were $11.4 million versus $13.3 million last year. "While down, compared to last year, they were a significant part of the company's pre-tax earnings," Ben Hill Griffin III, the founder's son and Alico's chairman, says in a prepared statement.
Total revenue for 2001 was $68.3 million compared to $103.5 million last year. Earnings from agriculture activities increased 3.5%, "primarily the result of improved market prices for sugar and beef," Griffin says.
Citlrus earnings were down 24%, "largely due to a decrease in citrus market prices," the Alico chairman says.
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