Del Monte trading resumes

MANILA, Philippines – Trading of Del Monte Pacific Ltd.’s (DMPL) shares resumed at 10:30 a.m. on Monday, Sept. 22, after the company released a clarification regarding its independent auditors’ disclaimer of opinion.

In a notice, the Philippine Stock Exchange (PSE) said it had lifted the trading suspension following DMPL’s “detailed discussion” on the impact of the deconsolidation of its US arm on its financial condition, operations and overall business.

READ: PSE suspends Del Monte trading

The Campos-led canned fruit maker reiterated that Ernst & Young’s rare disclaimer of opinion involved only the carrying values of assets and liabilities of, and DMPL’s investment in, and share in net losses of Del Monte Foods Holdings Ltd.

“The company’s Philippine and Asian businesses, which constitute its continuing operations, remain fully audited without qualification,” DMPL said in a separate disclosure. “The disclaimer has minimal bearing, if any, on the integrity of these results.”

The PSE on Sept. 16 suspended trading of DMPL’s shares after it failed to submit its annual report on time. However, the exchange later imposed a continued trading suspension after Ernst & Young’s disclaimer of opinion on the company’s 2025 audited financial statement.

DMPL said it had incurred $703.4 million in impairment losses due to the deconsolidation of Del Monte Foods, which is now putting up assets for sale.

However, the auditor said it was not able to get enough evidence to review the “appropriateness” of DMPL’s share in Del Monte Foods’ losses.