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.
While cat trends continue, the pandemic has added to overall slow-growth treatment of the cat food market.
Premiumization and humanization, as well as automation, fueled continued operation growth in spite of the COVID-19 pandemic.