BIZ BUZZ: Del Monte faces trading suspension
The season of disclosing financial statements is officially (way) over, but not for some companies.
This includes Del Monte Pacific Ltd. (DMPL), which failed to submit its annual report for the period ending April 30 this year.
In a notice on Tuesday, the Philippine Stock Exchange said the Campos-led canned fruit maker had violated the structured reportorial requirements of the bourse, as it did not submit on or before the extended deadline of Aug. 28.
Should it still fail to submit this by Sept. 12, DMPL faces the risk of a trading suspension by Sept. 15, the PSE said.
This, of course, is another roadblock for Del Monte, whose US arm recently filed for bankruptcy as it struggled to repay debt.
Still, DMPL managed to swing to a net profit of $10.9 million in its 2025 fiscal year from a net loss of $24.9 million in 2024.
DMPL went as far as saying they expected to remain profitable in the next year.
Let’s just hope that they file that report soon before they face another hurdle.
