Del Monte Pacific narrows Q4 loss to US$14.1m

Singapore

DEL Monte Pacific (DMPL) posted a net loss of US$14.1 million for the fourth quarter ended April, narrowing its losses from US$38.7 million a year ago. This included non-recurring expenses amounting to US$8.9 million. These comprise a US$4.1 million write-off of US subsidiary DMFI's (Del Monte Food, Inc) assets and its remaining net investment in the Venezuelan business and ERP (Enterprise Resource Planning) implementation of US$5.4 million, offset by a net gain of US$0.6 million.

Its revenue for the quarter rose 45.1 per cent, from US$364.0 million to US$528.2 million.