Back

Latest Forum Topics / Del Monte Pac    Last:0.086    -0.002

Post Reply

Del Monte Results Announcement Post Reply Rate topic
johnng Supreme	25-Jan-2017 09:54        johnng About Contact  Quote this Post!
x 0   x 0  Alert Admin	2017 still no one notice it???
Useful To Me  Not Useful To Me
orangekun Member	07-Dec-2016 10:29        orangekun About Contact  Quote this Post!
x 0   x 0  Alert Admin	The asian market is really a gem worth venturing into.   Double digits growth so far.
Useful To Me  Not Useful To Me
solsys Member	07-Dec-2016 10:24        solsys About Contact  Quote this Post!
x 0   x 0  Alert Admin	Rock solid results but news headlines published the big drop in net profit so that retailers sell cheap for smart money to accumulate.
Useful To Me  Not Useful To Me
katak88 Master	07-Dec-2016 10:10        katak88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Del Monte Pacific' s Q2 profit down 57.8% to US$20.2m on one-off expenses Tuesday, December 6, 2016 - 18:04 by   CLAIRE HUANG MAINBOARD-LISTED Del Monte Pacific Limited on Tuesday posted a net profit of US$20.2 million for the second quarter, down 57.8 per cent. This was due to one-off expenses of US$0.9 million for the three months as at end October from the closure of the North Carolina plant and severance. A year ago, there was a one-time net gain of US$31.9 million in the same period. Excluding the one-off item, net profit for Q2 rose 32.9 per cent year on year to US$21 million. Revenue for the quarter came in at US$636.2 million, down 4.6 per cent due to lower sales in the US, which was partially offset by the strong performance in the Philippines under the Del Monte brand, and rest of Asia under the S& W brand. Earnings before interest, taxes, depreciation and amortisation (Ebitda) was down 30.8 per cent to US$71.4 million, dragged by the one-off expenses, while prior year period' s net income included a one-time net gain of US$33.4 million mainly from the US subsidiary, Del Monte Foods, Inc' s (DMFI' s) retirement plan amendment. The group' s gross margin for Q2 grew to 23.1 per cent from 22.4 per cent a year ago, partly due to improvements in productivity in the cannery and lower commodity costs, particularly packaging. In the first half of FY2017, the group' s net profit was down 69.1 per cent to US$11.4 million, while revenue dipped 3.8 per cent year on year to US$1.1 billion. Â
Useful To Me  Not Useful To Me
solsys Member	06-Dec-2016 21:14        solsys About Contact  Quote this Post!
x 0   x 0  Alert Admin	Del Monte Pacific delivers a strong recurring net income of US$21m for the second quarter of FY2017, 33% higher than last year 2Q FY2017 Highlights · Net income without one-off items improved by 33% to US$21m · Revenue was slightly lower at US$636m on lower USA sales · Gross margin increased to 23.1% from 22.4% on improved productivity and lower commodity costs · Del Monte Philippines and S&W in Asia and Middle East continued to deliver strong performance · Deleveraging planned with Preference Shares offering in the Philippines Singapore/Manila, 6 December 2016 ? Singapore Mainboard and Philippine Stock Exchange dual listed Del Monte Pacific Limited (?DMPL? or the ?Group? Bloomberg: DELM SP, DMPL PM) reported today its second quarter FY2017 results ending October. The Group achieved second quarter sales of US$636.2 million, 5% lower than prior year period due to lower sales in the United States. Its US subsidiary, Del Monte Foods, Inc (DMFI), which accounted for 78% of Group sales, generated revenue of US$493.3 million. DMFI?s sales declined due to lower inventory builds on packaged vegetable and plastic fruit cup ahead of the holiday season (as major retailers continued their thrust to optimise cash), weakness in the canned fruit industry, continued impact of unsuccessful low-margin US Department of Agriculture bids from the second half of FY2016 plus reduced sales in private label and foodservice business lines. The foodservice business has been impacted by supply-related issues following closure of the North Carolina plant. Amidst industry contraction, DMFI increased market share in two major categories in retail and this was further supported through growth of the branded business with its biggest customer, Wal Mart, as well as share growth with other strategic retailers such as Target and Kroger. The Philippine market sustained its strong performance, with sales growing in double-digit terms, driven by expanded penetration and increased consumption across categories in retail, as well as expansion in the rapidly growing foodservice channel where the Group optimised opportunities. The Group also strengthened its culinary portfolio with the launch of the Contadina brand in the Philippines with Nigella Lawson, best-selling cookbook author, food enthusiast and TV host as brand ambassador, and with the reintroduction of its Del Monte Extra-Rich Tomato Ketchup and Del Monte Extra-Rich Banana Ketchup. Both launches are meant to tap into the growing trend for premiumisation, following improvements in the Filipinos? purchasing power. Sales of the S&W branded business in Asia and the Middle East performed very strongly with double digit growth driven by both the fresh and packaged segments. S&W expanded its fresh fruit distribution in China and raised brand awareness through in-store sampling. In the packaged segment, sales increased from strong sales of canned fruit to North Asia, higher shipment into Indonesia and improved sales to a foodservice partner in the Philippines. The Group?s gross margin for the second quarter increased to 23.1% from 22.4% in the same period last year partly due to improvements in productivity in the cannery and lower commodity costs particularly packaging. The Group?s recurring EBITDA of US$72.9 million was higher versus last year?s US$69.8 million. One-off-expenses amounting to US$1.5 million from closure of the North Carolina plant and severance were also booked in the second quarter of this year. This was part of the restructuring exercise started in FY2016 to optimise operations. In the prior year, due to a net one-time gain of US$33.4 million resulting mainly from an amendment to DMFI?s retirement plan, the Group had recorded an EBITDA of US$103.2 million. Without the one-off items, the Group achieved a net income of US$21.0 million, 33% higher than last year?s recurring net income of US$15.8 million. Inclusive of the one-off items, net income for the quarter was US$20.2 million, lower versus prior year period?s US$47.8 million. ?The excellent results in the Philippines and the S&W Asian markets, where our teams delivered on both sales expansion and productivity improvement resulting in cost reduction, underscore our strategy to tap into consumption driven growth in Asia which is fuelled by an emerging middle class while, at the same time, seeking to create efficiencies throughout our operations,? said Joselito D Campos, Jr, Managing Director and Group CEO of DMPL. ?Our US business has been impacted by shifting consumer preferences, spending priorities and our performance in the foodservice sector. The demand for convenient packaged foods remains strong and our aim is to increase our market share by doubling our efforts on innovation and new product development,? he added. DMFI increasingly offers differentiated value propositions through meaningful product improvements including the use of natural sea salt and the transition to BPA-free internal can coatings and non-GMO. For the first half of FY2017, the Group generated sales of US$1.1 billion, down 4% versus prior year period on lower sales from the US partly offset by robust sales in Asia. Excluding the one-off items, the Group?s recurring net income would have been US$15.1 million in the first half of FY2017, more than double last year?s US$6.9 million. With the inclusion of the one-off items, the Group generated a net income of US$11.4 million, lower than prior year period?s US$37.1 million which included a net one-time gain of US$30.4 million mainly from DMFI?s retirement plan amendment of last year. As part of the Group?s deleveraging plan subject to market conditions, DMPL intends to issue early next year US dollar denominated perpetual preference shares in the Philippine capital market, to be listed on the Philippine Stock Exchange (PSE). The Company has received approvals from the Philippine SEC and the Bangko Sentral ng Pilipinas (Central Bank) and is awaiting the approval of its listing application from the PSE. As this is the first US$-denominated preference shares to be issued and listed on the PSE, PSE?s trading platform is being enhanced for dollar denominated transactions. The SEC has recently approved the PSE?s Dollar Denominated Securities rules. The proposed issue will be up to US$360 million (with an initial tranche of up to US$250 million and the balance issuable within three years) that will result in a further improvement in the Group?s leverage ratios.
Useful To Me  Not Useful To Me
LuckyLady Member	30-Nov-2016 11:18        LuckyLady About Contact  Quote this Post!
x 0   x 0  Alert Admin	Today moved up, must be expecting good results next Tuesday!
Useful To Me  Not Useful To Me
katak88 Master	21-Nov-2016 16:38        katak88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Del Monte PHL eyes revenue reaching $1 billion in five years By    Roderick Abad NOVEMBER 17, 201 CAGAYAN DE ORO&mdash Food manufacturer Del Monte Philippines Inc. (DMPI) is keen on expanding its operations as part of the group&rsquo s goal to double its business by 2021, with an aggregate revenue of around $1 billion. &ldquo We have not finalized [yet] all the capital investments required,&rdquo DMPI Manufacturing Director Alan Z. Salcedo told reporters during their recent tour of Del Monte&rsquo s cannery facility here. &ldquo But it&rsquo s a lot. We have started on our strategic plan for the next five years. So we are firming up all the investments required from all divisions.&rdquo A subsidiary of publicly listed Del Monte Pacific Ltd. (DMPL), DMPI is currently a &ldquo $350-million business.&rdquo It operates the world&rsquo s largest fully integrated pineapple operation through its 23,000-hectare pineapple plantation in Manolo Fortich, Bukidnon, and a factory in Bugo, Cagayan de Oro, which processes close to 700,000 tons of pineapple a year. &ldquo That volume is said to be at least one-fifth of the world&rsquo s pineapple production,&rdquo DMPI Mindanao Stakeholder Relations Manager Arthur B. Quilnat said, while noting the Philippines&rsquo s contribution of about 50 percent to the Group&rsquo s volume, followed by the US at 25 percent, Europe at 15 percent and Asia at 10 percent.    While plans for the expansion program have been already outlined, DMPI is being faced by various challenges. Salcedo said finding more lands to acquire is among the concerns they are now working on, although they have existing sites. &ldquo That&rsquo s the most immediate obstacle. What we are finding now is scattered [in different locations]. Ideally, we want it closer to our plant and our people,&rdquo he said, while disclosing they have been and recently offered by the local government units (LGUs) of Claveria, Misamis Oriental, and Talakag, Bukidnon, with close to 2,000 hectares and 3,000 hectares of land, respectively, as potential sites for the plantations. &ldquo Also, [we are concerned on] other costs because we have to move equipment and people.&rdquo Quilnat conceded land acquisition is &ldquo not as easy as before&rdquo since they have to compete with growers of other crops, such as sugar, banana, palm, corn, cacao and coffee, among others. &ldquo We also have very strict requirements on the types of land good for pineapple and, of course, papaya,&rdquo he said. Last year, DMPI experienced a shortage supply of papaya hence, it had to import from Thailand. &ldquo That&rsquo s very expensive. So this year, we are not importing anymore,&rdquo Salcedo said, though, he admitted they still lack supply of such ingredient for their fruit-cocktail product. Another raw material that Del Monte needs for such canned offering, Quilnat said, is   nata de coco, which it sourced from Davao, Cotabato and Luzon, and previously imported from abroad. &ldquo So we are promoting it in the areas where we are present to have this cottage industry developed by the outgrowers, with the LGU,&rdquo he said. &ldquo Also, we have a very good outgrowership program for papaya, where land owners can lease out their lands to us to grow this.&rdquo DMPL is 67-percent owned by NutriAsia Pacific Ltd. and Bluebell Group Holdings Ltd., beneficially owned by the Campos family of the Philippines. The NutriAsia Group is the market leader in the liquid condiments, specialty sauces and cooking-oil market in the Philippines. The Group&rsquo s sales for the first quarter of fiscal year 2017 ending July amounted to $465.5 million, or 3 percent lower than last year, due to lower sales in the US, through its unit called Del Monte Foods Inc. The latter accounted for 75 percent of DMPL&rsquo s sales, generating revenue of $350.9 million, or 6 percent lower than the prior-year quarter due to the continued impact of unbranded sales, plus reduced sales in private label and foodservice-business lines. In the Philippines, however, Del Monte posted a strong performance in the first quarter, with sales up 14 percent in peso terms, driven by expanded penetration and increased consumption of its packaged pineapple, culinary products and beverages as a result of new advertising campaigns as well as improved foodservice channel, growing by 28 percent also in peso terms. http://www.businessmirror.com.ph/del-monte-phl-eyes-revenue-reaching-1-billion-in-five-years/
Useful To Me  Not Useful To Me
solsys Member	13-Nov-2016 23:50        solsys About Contact  Quote this Post!
x 0   x 0  Alert Admin	SEC finally okays dollar equity shares posted November 11, 2016 at 11:20 pm by Jenniffer B. Austria The Securities and Exchange Commission has given its go-signal to the listing of dollar-denominated securities at the Philippine Stock Exchange. SEC chairperson Teresita Herbosa said the corporate regulator approved the proposed rules on the listing and disclosure, trading, clearing and settlement and fees of DDS during in an en banc meeting Thursday afternoon. The PSE plans to launch the new securities product before the end of the year. The new securities product will enable companies to list their dollar denominated shares in addition to their peso common shares. Fruit grower and canner Del Monte Pacific Ltd. has been waiting for SEC?s approval of the DDS rules to finally push through with its $360-million preferred shares offering. http://thestandard.com.ph/mobile/article/221183
Useful To Me  Not Useful To Me
LuckyLady Member	03-Nov-2016 15:46        LuckyLady About Contact  Quote this Post!
x 0   x 0  Alert Admin	Slow and steady, price also very resilient. Buy and hold....
Useful To Me  Not Useful To Me
bllue911 Member	09-Sep-2016 09:27        bllue911 About Contact  Quote this Post! Style: Flexible
x 0   x 0  Alert Admin	yup, good progress on the highlighted part. slow but steady fulfilment of its commitments vested
Useful To Me  Not Useful To Me
katak88 Master	09-Sep-2016 09:20        katak88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	9 September 2016   Del Monte Pacific achieves an EBITDA of US$23.7m for the first quarter of FY2017, 20% higher than last year 1Q FY2017 Highlights  Revenue was slightly lower at US$466m on lower USA non-branded sales  EBITDA of US$23.7m was 20% higher  US subsidiary increased market share across major branded categories  Del Monte Philippines and S& W continued to deliver strong performance  Deleveraging planned with Preference Shares offering    Singapore/Manila, 9 September 2016 &ndash Singapore Mainboard and Philippine Stock Exchange dual listed Del Monte Pacific Limited (&ldquo DMPL&rdquo or the &ldquo Group&rdquo Bloomberg: DELM SP, DMPL PM) reported today its first quarter FY2017 results ending July. The Group achieved first quarter sales of US$465.5 million, 3% lower than last year due to lower sales in the United States. Its US subsidiary, Del Monte Foods, Inc (DMFI), which accounted for 75% of Group sales, generated revenue of US$350.9 million, 6% lower than prior year quarter due to the continued impact of unbranded sales, ie unsuccessful low-margin US Department of Agriculture bids from the second half of FY2016 plus reduced sales in private label and foodservice business lines. However, amidst industry contraction, DMFI increased market share across branded canned vegetable and fruit, as well as broth which is a rapidly growing category. Del Monte canned vegetable and College Inn broth volumes expanded by 17% and 32%, respectively. Del Monte delivered a strong performance in the Philippines in the first quarter, with sales up 14% in peso terms, driven by expanded penetration and increased consumption of its packaged pineapple, culinary products and beverages as a result of new advertising campaigns. Foodservice channel continued to outperform the market, growing by 28% in peso terms. Sales of the S& W branded business in Asia and the Middle East rose 12% in the first quarter mainly due to strong sales of canned fruit in North Asia on the back of improved distribution. In China, the S& W tie-up with Burger King to supply pineapple slices for its burgers contributed to the robust performance of the brand which also saw positive results from its co-branding of S& W fresh pineapple products in partnership with a leading distributor of fresh produce. S& W is expanding its reach in Asia through partnerships amongst other initiatives. DMPL&rsquo s share of loss in the FieldFresh joint venture in India was lower at US$0.3 million from US$0.4 million in the prior year period. Del Monte packaged products saw strong growth from key accounts and foodservice segments led by improved volume in ketchup and mayonnaise. Higher sales and production efficiencies resulted in FieldFresh continuing to generate a positive EBITDA for the quarter. The Group&rsquo s gross margin for the first quarter declined slightly to 20.1% from 21.4% in the same period last year due partly to the planned normalised trade spend in the United States. Trade spend was lower last year due to product shortage. The Group achieved an EBITDA of US$23.7 million, 20% higher than prior year quarter, due to lower operating expenses as a result of initial savings from a restructuring that started in FY2016. However, first quarter results included one-off restructuring expenses amounting to US$4.9 million (pre-tax basis) which included closure of the North Carolina plant. As part of the restructuring, DMFI also completed an organisational realignment to create a leaner and more agile management structure to be better positioned for growth and new business opportunities. Without the one-off expenses, the Group achieved a recurring EBITDA of US$28.6 million, 25% higher than prior year quarter. The Group reported a net loss of US$8.7 million for the first quarter, a lower loss versus prior year quarter&rsquo s US$10.7 million loss. Without the US$2.8 million (post-tax basis) of one-off expenses, the Group reported a recurring net loss of US$5.9 million, substantially lower than last year&rsquo s US$9.0 million. DMFI&rsquo s first quarter is seasonally its weakest quarter accounting for only 19-21% of full year sales. Lower sales also reflect on profit performance where DMFI historically incurs a loss in the first quarter. Sales would peak in the second and third quarters around Thanksgiving and Christmas. . &ldquo We continue to drive improvements in our cost structure and this is reflected in the higher EBITDA performance of the Group in the first quarter. Our ongoing restructuring and streamlining efforts will deliver significant savings this year and next,&rdquo said Joselito D Campos, Jr, Managing Director and Group CEO of DMPL. &ldquo With the first quarter being seasonally the weakest quarter in the US, we expect improved profitability in the coming quarters. We continue to align operations with our strategic direction to strengthen the Group&rsquo s core business, gain market share, increase margins and expand into adjacent categories as part of a long-range plan to grow our sales and profits in the years ahead.&rdquo As part of the Group&rsquo s deleveraging plan, DMPL intends to issue US dollar denominated perpetual preference shares in the Philippine capital market, to be listed on the Philippine Stock Exchange (PSE). The Group expects to launch the offering this year subject to regulatory approvals and market conditions. The Company has received approvals from the Philippine SEC and the Bangko Sentral ng Pilipinas (Central Bank), and is awaiting the approval of its listing application and the offering from the PSE. As this is the first US$-denominated preference shares to be issued and listed on the PSE, the platform is being set up. The PSE has approved and endorsed its amended Dollar Denominated Securities rules to the SEC for the latter&rsquo s concurrence. The proposed issue will be up to US$360 million (with an initial tranche of up to US$250 million and the balance issuable within three years) that will result in a further improvement in the Group&rsquo s leverage ratios. Barring unforeseen circumstances, the Group will continue to be profitable for FY2017.      Â
Useful To Me  Not Useful To Me
bllue911 Member	09-Sep-2016 08:51        bllue911 About Contact  Quote this Post! Style: Flexible
x 0   x 0  Alert Admin	Quite decent numbers released this morning.
Useful To Me  Not Useful To Me
anchorvale Senior	16-Aug-2016 08:12        anchorvale About Contact  Quote this Post!
x 0   x 0  Alert Admin	The US company acquired is giving good dividends. May have some movements here today.
Useful To Me  Not Useful To Me
francisd Master	29-Jul-2016 16:31        francisd About Contact  Quote this Post! Style: Combined   Mood: Yells: "BUY LOW SELL HIGH"
x 0   x 0  Alert Admin	It is as if the counter is frozen...last trading from 11.06 am....no one interested. So sad.. Cheers.
Useful To Me  Not Useful To Me
francisd Master	28-Jul-2016 16:54        francisd About Contact  Quote this Post! Style: Combined   Mood: Yells: "BUY LOW SELL HIGH"
x 0   x 0  Alert Admin	Somebody is throwing  1 lot  to keep the price down....humm.. Cheers Vested.
Useful To Me  Not Useful To Me
bllue911 Member	26-Jul-2016 14:50        bllue911 About Contact  Quote this Post! Style: Flexible
x 0   x 0  Alert Admin	Dividend is quite decent. Maybe more than > 40 cents by next week :) francisd      ( Date: 26-Jul-2016 09:34) Posted: Going up...doing fine..dividend is good. Not complicated to invest. Cheers. Vested.
Useful To Me  Not Useful To Me
francisd Master	26-Jul-2016 09:34        francisd About Contact  Quote this Post! Style: Combined   Mood: Yells: "BUY LOW SELL HIGH"
x 0   x 0  Alert Admin	Going up...doing fine..dividend is good. Not complicated to invest. Cheers. Vested.
Useful To Me  Not Useful To Me
appleronaldo Veteran	14-Jul-2016 15:14        appleronaldo About Contact  Quote this Post!
x 0   x 0  Alert Admin	WATCH later
Useful To Me  Not Useful To Me
johnng Supreme	14-Jul-2016 11:29        johnng About Contact  Quote this Post!
x 0   x 0  Alert Admin	Could rally today past 35cents
Useful To Me  Not Useful To Me
johnng Supreme	04-Jul-2016 12:38        johnng About Contact  Quote this Post!
x 0   x 0  Alert Admin	CHIONG not?
Useful To Me  Not Useful To Me

                                                         First   < Newer   441-460 of 616   Older>   Last