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Del Monte Pacific profit plunges 97.9%

Costs had surged mainly due to the February 2014 purchase of Del Monte Foods in the US

Published Mon, Dec 15, 2014 · 09:50 PM

Singapore

DESPITE soaring revenues, mainboard and Philippines-listed Del Monte Pacific Limited (DMPL), recorded a 97.9 per cent plunge in net profits for the second quarter of FY2015, after taking a US$20.5 million hit from expenses relating to its acquisition of US packaged food producer Del Monte Foods, Inc (DMFI) in February this year.

For the three months ended Oct 31, 2014, revenue…

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