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Del Monte Pacific’s 1Q net loss narrows 18.3% to $11.8 mil

Michelle Zhu
Michelle Zhu9/9/2016 09:35 AM GMT+08  • 2 min read
Del Monte Pacific’s 1Q net loss narrows 18.3% to $11.8 mil
SINGAPORE (Sept 9): Food and beverage (F&B) company Del Monte Pacific posted a net loss of US$8.7 million ($11.8 million) for the three months ended 31 July, narrowing 18.3% from its net loss of US$10.7 million a year ago on higher operating profit.
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SINGAPORE (Sept 9): Food and beverage (F&B) company Del Monte Pacific posted a net loss of US$8.7 million ($11.8 million) for the three months ended 31 July, narrowing 18.3% from its net loss of US$10.7 million a year ago on higher operating profit.

Group revenue was down 2.8% to US$465.5 million, 3% lower from US$478.7 million in 1Q16 year due to lower non-branded sales in the US.

This was partially because its US subsidiary, Del Monte Foods Inc (DMFI), which accounted for 75% of 1Q’s group sales, generated 6% lower revenue from the prior year due to the continued impact of unbranded sales.

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