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Pet Food News
on March 8, 2010

Del Monte's refinancing costs overshadow profits

Del Monte Foods Co. said its profit from the fiscal third quarter declined to US$59.4 million from US$60.5 million in the year-ago quarter due to greater refinancing costs, offsetting improved sales of the company's products.

Del Monte Foods Co.  said its profit from the fiscal third quarter declined to US$59.4 million from US$60.5 million in the year-ago quarter due to greater refinancing costs, offsetting improved sales of the company's products.

Del Monte's pet products net sales were US$468.8 million, an increase of 8.3% over net sales of US$433.0 million in the prior year period. The company attributed the increase to strong growth from existing dry dog food and pet snack products.

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