In today’s briefing:
- Del Monte Pacific: Interest Costs Weigh On Financials
Del Monte Pacific: Interest Costs Weigh On Financials
- Global branded food and beverage outfit Del Monte Pacific (DELM SP) recently announced group sales grew by 3% to US$68mn in the 3Q23 (April Y/E).
- However net profit declined by 62% to US$9.8mn due to lower operating results and increased interest expense from higher cost bank loans.
- Del Monte’s net debt, net gearing, and net debt/EBITDA were S$2.2bn, 582.5%, and 6.1x, compared to S$1.45bn, 211%, and 4.2x a year ago.
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