Del Monte posts Q2 loss as plants get canned

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.

Del Monte, which was also loss-making in the first quarter, warned on Nov 19 that it expected to report a loss on one-off expenses at a key subsidiary, US-based…