Campos family-led food and beverage conglomerate Del Monte Pacific Ltd. (DMPL) returned to profitability in the quarter ending October as the COVID-19 pandemic boosted demand for shelf-stable products among Asian and American consumers.
DMPL posted an attributable net profit of $21.9 million from August to October—the second quarter in its fiscal year 2021—reversing the loss of $37.35 million in the same period last year.
Stripping out one-off items, DMPL’s net profit went up by 37 percent year-on-year to $21.85 million in the quarter on the back of higher sales, favorable sales mix and overall margin improvement in both US and Asian operations.
The US unit, Del Monte Foods …
Keep on reading: Del Monte back in the black on increased product demand