FOOD and beverage company Del Monte Pacific Ltd. reported on Friday that its net loss in the first quarter of the fiscal year (FY) ending in May 2024 had fallen to $13.08 million from the $30.52 million incurred a year earlier.

In a statement, Del Monte said inflationary factors led to increased interest expenses, resulting in an 18-percent decline in gross profit to $108.3 million, with a gross margin of 21 percent.

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