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Weak US business and delay in preference shares issue ‘holding back’ this F&B company

PC Lee
PC Lee3/15/2017 11:44 AM GMT+08  • 2 min read
Weak US business and delay in preference shares issue ‘holding back’ this F&B company
SINGAPORE (March 15): CIMB is putting Del Monte Pacific (DMPL) on “hold” given weak nine-month earnings amid tough business conditions for its US division.
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SINGAPORE (March 15): CIMB is putting Del Monte Pacific (DMPL) on “hold” given weak nine-month earnings amid tough business conditions for its US division.

For 9M17, net profit came in below expectations at 59% of CIMB’s full-year forecast.

During the quarter, the company incurred one-off expenses of US$12.4 million ($17.5 million) related to its US business Del Monte Food Industries (DMFI).

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