Stocks to watch: Del Monte Pacific, JB Foods

THE following companies saw new developments that may affect trading of their securities on Friday (Jun 24):

Del Monte Pacific : The mainboard-listed food brand on Thursday posted earnings of US$20 million for the fourth quarter ended April, up 37.8 per cent from earnings of US$14.5 million in the corresponding year-ago period. Its board has approved a final dividend of US$0.017 per share, about 42 per cent higher than the previous year’s dividend. Shares of Del Monte closed flat at S$0.355 on Thursday, before the announcement.

JB Foods : The company held the official ground-breaking ceremony of its newest cocoa processing factory in Abidjan on Thursday. The factory is slated to be ready by Q4 2024, it said in a press statement. JB Foods’ expansion plans in Ivory Coast will see an initial investment of about 60 million euros (S$87.7 million) and the creation of employment opportunities. Shares of JB Foods closed on Thursday at S$0.485, down 4.9 per cent or S$0.025.