Philippine food company Del Monte's net profit soared 630.4% in the second quarter, with its stock price rising 12.79% | Lianhe Zaobao
Philippine food company Del Monte's net profit in the second quarter of fiscal year 2026 soared 630.4% year-on-year, reaching USD 16.8 million. The net profit for the first half of the fiscal year jumped from USD 2.7 million to USD 22.3 million. The company's total sales increased by 10% year-on-year to USD 234.9 million, with growth in both the Philippine and international markets, particularly strong exports of fresh pineapples. Sales for the first half of the fiscal year grew by 11%, reaching USD 438.6 million. Benefiting from strong market demand and improved operational efficiency, Del Monte's stock price rose by 12.79%
The locally listed Philippine food company Del Monte reported a staggering 630.4% year-on-year increase in net profit for the second quarter of the fiscal year 2026, reaching USD 16.8 million (approximately SGD 21.85 million), far exceeding last year's USD 2.3 million.
For the first half of the fiscal year, net profit surged from USD 2.7 million in the same period last year to USD 22.3 million.
Del Monte Pacific announced part of its performance for the second quarter of the fiscal year 2026, ending in October, on Monday (November 17).
The company noted that strong market demand and improved operational efficiency contributed to a 10% year-on-year increase in total sales, reaching USD 234.9 million. Both the Philippine and international markets experienced growth, particularly strong exports of fresh pineapples. Sales for the first half of the fiscal year increased by 11%, reaching USD 438.6 million.
Due to increased sales volume and higher pricing, the company's sales in the Philippines grew by 9% in pesos and 7% in dollars, reaching USD 12.17 million. The strong demand for packaged pineapples and the increase in year-round consumption of mixed fruits drove this market growth.
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To reduce debt, Del Monte plans to privately sell shares to raise at least PHP 6.46 billion Del Monte's net profit in the first quarter increased nearly 14 times to USD 5.51 million
The company stated, "Nutrition-oriented promotional activities position pineapples as a daily super fruit, further reinforcing consumer preference for natural immune-boosting foods."
On the international market front, the "strong exports" of fresh pineapples also drove a 7% year-on-year increase in international sales, reaching USD 90.6 million, with sales of fresh pineapples, NFC juice, and frozen pineapples all seeing growth. Notably, NFC juice surged by 49%, primarily from the Chinese and European markets. The fresh pineapple and frozen pineapple businesses also grew by 23% and 21%, respectively In addition, thanks to the optimization of prices across all product lines and the reduction in production costs brought about by the increase in pineapple recovery rates, the company's gross margin improved by 580 basis points in the first half of the fiscal year, rising from 27.6% to 33.4%.
As of 10:17 AM, Del Monte Pac's stock price surged by 12.79%, trading at 0.097 yuan
