DEL Monte Pacific Ltd. (DMPL) plans to cut production this summer by as much as 50 percent for some product categories as part of measures to address declining profit margins.
DEL Monte Pacific Ltd. plans to cut production this summer by as much as 50 percent for some product categories as part of measures to address declining profit margins.The company has reported a net loss of $127.3 million for the fiscal year that ended April 2024 from a net profit of $16.9 million a year ago, mainly due to higher costs and expenses coupled with declining volume sales and an inventory imbalance.
The shortfall led to a more complicated issue in managing the company's inventory, Sachdeva continued. 'You ended up with aging issues, you ended up with FIFO issues, which led to increased waste.''This gap in what was forecasted to what actually occurred is exactly what Parag described. It created the inventory imbalance,' Longstreet said, adding that they expect to carry an inventory imbalance for the next 12 to 24 months.
Monte Pacific To Cut Production
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