US food company Del Monte Foods has posted a fall in quarterly profit, hit by lower sales and higher marketing costs.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The San Francisco-based company reported net income of US$14.3m, or 7 cents a share, for the first quarter to 27 July, compared to reported profit of $33.2m, or 21 cents a share, a year earlier.
Adjusting for one-time items, including the company’s acquisitions of several brands from H J Heinz last year, Del Monte reported profit of 9 cents a share, compared with 18 cents a year earlier.
Del Monte, which makes Starkist tuna, said its sales fell to $631.3m, compared to adjusted sales of $663.1m a year earlier.

US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData