Del Monte Pacific's Q4 net profit slumps 87% on one-off expenses

Singapore

ITS United States subsidiary's restructuring expenses coupled with the write-off of deferred tax assets have put a dent on food conglomerate Del Monte Pacific's fourth-quarter net profit.

For the three months as at end- April, net profit plunged 87.4 per cent year-on-year to US$2.9 million due to one-off expenses of US$14.3 million, compared to the year-ago period which included a one-off net gain of US$8.4 million.