5 things you need to know about Del Monte Pacific’s FY16 earnings: DBS

SINGAPORE (June 30): DBS Vickers Securities is keeping Del Monte Pacific (DMPL) on “hold” but lowered its target price to 37 cents from 39 cents due to reduced earnings forecasts.

“While the turnaround was achieved, the quantum was lower than initially envisaged,” says DBS lead analyst Andy Sim in a Thursday report.

For the 12 months ended April, Del Monte Pacific’s earnings came in at US$51.5 million ($69.7 million) compared to a loss of US$43.2 million in FY15.

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