Del Monte Pacific Reports US$38 Million FY15 Net Loss

For FY15, Del Monte Pacific reported a net loss of US$38 million despite a 190.5 percent growth in revenue to US$2.2 billion.

The surge in revenue was due to the consolidation of Del Monte Foods, Inc, since its acquisition in February last year.

The group incurred significant expenses due to the acquisition and non-recurring expenses such as inventory step-up of US$24.6 million and bridge loans’ interest expense of US$25.3 million.

Excluding acquisition-related and other non-recurring expenses, the group would have recorded a net income of US$24.5 million for the year.

The group’s cash flow from operations for the year was US$232.2 million, more than doubled from US$105.4 million last year.

More From Shares Investment:

• Mapletree Logistics Trust Acquires Distribution Centre In Australia For AUD253 Million

• Singapore Technologies Engineering Secures Contract Worth US$350 Million

• Artivision Technologies Secures 5 Contracts In Israel