US fruit and vegetable processor Del Monte Foods has posted a drop in quarterly profit, as it has hit by one-time items related to its recent purchase of several brand from US food group H.J. Heinz.
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San Francisco-based Del Monte reported fiscal fourth-quarter profit of US$23.5m, or 11 cents a share, compared with $47.5m, or 30 cents a share, a year earlier.
Excluding unusual items, earnings were 21 cents a share in the quarter, which was in line with Wall Street forecasts. Excluding one-time items from the year-ago quarter, earnings were 20 cents a share, reported Reuters.
