Another quarter of lower sales of consumer products has hit overall revenue at Del Monte Foods.
The US company today (22 June) reported a 1.7% fall in fourth-quarter net sales after sales of its consumer brands, which include canned products, fell 8.6%.
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Del Monte’s fourth-quarter profitability improved year-on-year as it lapped last year’s figures, which included costs linked to the acquisition of the company by a private-equity led consortium.
However, profits from its consumer products division were lower in the quarter thanks to the lower sales and costs linked to the lawsuit filed against the company earlier this year by Fresh Del Monte Produce.
Over the year as a whole, Del Monte’s sales and profits improved, thanks in the main to its pet products business.
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