Del Monte back in the black with Q3 net profit of US$2.6m

Singapore

LOWER "one-off" expenses for its US subsidiary helped food and beverage group Del Monte Pacific deliver a third-quarter net profit of US$2.6 million, from a net loss of US$38.4 million for the year-ago period, the group said in a Singapore Exchange filing on Friday morning.

Loss per share (LPS) narrowed to 0.12 US cent, from 2.2 US cents in the previous corresponding period. Taking into account preference dividends, earnings per share was 0.13 US cent for the quarter, compared to a loss of 1.97 US cents a year ago.