Del Monte losses balloon by 82% on US costs

Del Monte losses balloon by 82% on US costs

/ 09:44 AM March 13, 2025

Del Monte losses balloon by 82% on US costs

MANILA, Philippines — Losses at canned food maker Del Monte Pacific Ltd. ballooned by 82 percent to $92.24 million during the first nine months of its fiscal year covering May 2024 to January 2025, as higher costs at its US subsidiary offset gains in the Philippines.

In a stock exchange filing on Thursday, Del Monte said its sales inched up by 3 percent to $1.9 billion thanks to double-digit growth at Del Monte Philippines Inc. (DMPI).

Article continues after this advertisement

Sales at DMPI reached $582 million, up by 13 percent, driven by growth in both the domestic and international markets.

FEATURED STORIES

READ: Del Monte H1 losses ballooned to $56.3M

As for US subsidiary Del Monte Foods Corp. II Inc. (DMFC), sales were flat at $461.3 million on the back of low retail volume and unfavorable sales mix.

DMFC’s gross profit also dipped by 20 percent to $58.2 million due to “unfavorable fixed cost absorption, increased warehousing and transfer freight costs.”

“Del Monte Philippines is experiencing good momentum, a testament to our team’s unwavering commitment to consumer engagement and cost optimization,” Del Monte chief operating officer Luis Alejandro said in a statement.

Alejandro, who is also DMPI’s president and COO, added that they were addressing challenges at DMFC.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: del monte, losses

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2025 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.