Del Monte Pacific widens losses in Q3

DEL Monte Pacific Ltd. (DMPL) said Tuesday it incurred a net loss of $29 million in the third quarter of its fiscal year ending April on higher operating costs, lower sales, and higher interest expense.

The net loss was a reversal of the previous year's $10 million profit for the same period, and represented more than three times the $8.5 million loss recorded in the preceding quarter, on continuing lower domestic and global sales.