Del Monte posts Q2 loss as plants get canned
Chief executive Joselito Campos, Jr says plant divestment was necessary to stay competitive
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Singapore
MAINBOARD-LISTED food and beverage company Del Monte Pacific - which is known for its sauces, juices and tinned fruits - posted a net loss for the second quarter, in line with an earlier guidance.
It lost US$37.4 million in the three months to Oct 31, according to results released on Friday, reversing profit of US$8.43 million in the year before, even as revenue inched up by 0.4 per cent to US$558.7 million.
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