by winston » Tue Nov 11, 2008 10:37 pm
Del Monte's Q3 net profit up 32%, gearing up
By ANGELA TAN
Del Monte Pacific Limited said on Tuesday its net profit for the third quarter ended September 30, 2008 rose 31.6 per cent to US$6.21 million.
Earnings improved due to the robust growth in operating profit and lower taxes, which more than offset the equity accounted loss from the Indian affiliate and the foreign exchange hedge loss.
Turnover rose 41.2 per cent to US$98.79 million driven by the Philippine market.
Gearing rose to 36.2 per cent from 10.9 per cent a year ago.
Management expects that the Group's 2008 net income will outperform those achieved in 2007.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"