With Delta Covid variant continually wrecking havoc around the world; retail shops, restaurants, transport companies are likely to be affected with the reduced crowd flow.
However, there are certain sectors that will benefit from this instead – food manufacturing, IT etc.
Hence, we have identified 3 such defensive stocks that manufacture food and help to ‘secure our food supply’.
Defensive Stock#1 – Del Monte Pacific
Del Monte Pacific is a global branded food and beverage company that caters to today’s consumer needs for premium quality, healthy products. The Group innovates, produces, markets and distributes its products worldwide.
As of its latest quarterly results, Del Monte’s revenue increased by 11.7% to USD 1.67 billion. Its net profit increased by an amazing 77.7% to USD 48.8 million.
The group’s operating cash flow came in at USD 208.7 million which brings it cash level to USD 33.3 million.
More people staying at home means more cooking at home, and mean more pineapples or canned food needed~
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