Del Monte Pacific Q1 bottom line bolstered by one-off gain

Singapore

BOOSTED by a one-off gain, food and beverage group Del Monte Pacific earned a net profit of US$3.02 million in Q1 FY19, compared to a profit of US$740,000 a year ago, even as revenue dipped on lower sales.

The one-off items of US$6.8 million (post-tax) was from the purchase of subsidiary Del Monte Foods Inc's (DMFI) loans at a discount in the secondary market.