Del Monte Pacific Ltd. said profit for the nine months of its fiscal year ending April declined 64.04 percent to $28.8 million from $80.1 million due to one-time costs related to refinancing of loans last year.
Sales grew 4 percent to $1.8 billion, from P1.73 billion, on higher USA and international sales.
Gross margin remained almost at par at 26.6 percent from 26.8 percent. Gross profit was up 3 percent to $489.2m while earnings before interests, taxes, depreciation and amortization (EBITDA) was stable at $274.7 million,” the company said.
“The global environment remains unstable with consumers becoming more cautious with their spending and cost pressures persisting. The group will remain vigilant in managing its operating expenses which include packaging materials optimization; power and fuel initiatives; investments in plants to improve efficiency, productivity and minimize wastage; and product bundling initiatives in distribution centers,” Del Monte said.
