Del Monte seeks 'systems upgrades'

By Earl John Alfaro

Aug 31, 2024 12:21 am

GLOBAL food and beverage company Del Monte Pacific Ltd. (DMPL) cited lower gross profit margins and higher interest cost as main factors impacting its 2024 operations, as it adopted measures to address losses, in response to questions from The Securities Investors Association.

Its US subsidiary, Del Monte Food Inc. (DMFI), recorded a net loss of $106.4 million, attributed in part to inflation, increased waste from aged items and higher variable product cost.

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