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Del Monte Pac

Stock Chart
Last Done 0.420
Change -0.010 (-2.33%)
Volume 1,798.2
Range 0.415 - 0.430

Del Monte Pacific: Delivers Net Profit Of US$63 Million In FY2021.

24 Jun 2021 09:04

Del Monte Pacific's net profit of US$63m was a significant turnaround from the US$81m loss in the prior year, EBITDA more than doubled to US$309m. EBITDA of US subsidiary Del Monte Foods surged to US$170.5m from US$33m in prior year and delivered a net profit of US$15m from a loss of US$100m last year due to asset-light strategy which has generated significant savings. DMPL improved its gross margin to 25.7% from 21.2% on better sales mix, lower trade spending and lower costs. Group reduced net debt, lowering gearing to 2.0x from 2.4x equity, while Moody's and Standard & Poor upgraded Del Monte Foods' credit ratings in April 2021. Final dividend declared representing 37% of FY2021 net profit...

Attachments: Source: ShareInvestor Express

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