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Del Monte posts US$8.5 million loss for Q2, net debt swells to US$2.5 billion

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Uma Devi

Uma Devi

Published Wed, Dec 13, 2023 · 06:26 PM
    • Del Monte expects to post a loss for the full year, a reversal from the guidance it gave in its Q1 financial results announcement in early September. The company had said then that it expects to achieve a net profit for the remainder of FY2024.
    • Del Monte expects to post a loss for the full year, a reversal from the guidance it gave in its Q1 financial results announcement in early September. The company had said then that it expects to achieve a net profit for the remainder of FY2024. PHOTO: DEL MONTE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    CANNED food brand Del Monte Pacific on Wednesday (Dec 13) posted a net loss of US$8.5 million for the second fiscal quarter ended October, a reversal from earnings of US$49.5 million in the year-ago period. 

    On a per-share basis, the group’s losses came in at US$0.0044, versus earnings per share of US$0.0246. 

    This took the group’s net losses for the first half of its fiscal year to US$21.6 million, versus a net profit of US$69.2 million in the corresponding year-ago period, which excludes one-off items.

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