DEL MONTE Pacific Ltd. (DMPL) said its net profit for the second quarter (Q2) ended Oct. 31 jumped nearly seven-fold to $16.8 million from $2.3 million a yr ago, driven by higher sales.
For the primary half of its fiscal yr 2026, Del Monte’s net benefit from continuing operations rose to $56.3 million, up from last yr, supported by a ten% increase in sales to $423.3 million, it said in an announcement on Thursday.
Sales growth was led by the Philippines, where packaged pineapple and mixed fruits recorded strong demand. Packaged pineapple benefited from nutrition-led campaigns, while mixed fruits expanded beyond seasonal fruit salads to year-round desserts, lifting market share by 4 percentage points, in line with the corporate.
Internationally, fresh pineapple exports rose 23%, with North Asia remaining the corporate’s largest marketplace for imported pineapples at a 51% share.
Net debt of constant operations declined 4.79% to $994.9 million from $1.04 billion a yr ago, reflecting improved money flow and stronger operating results.
Del Monte deconsolidated its US subsidiary Del Monte Foods Corp. effective May 1, 2025, after the unit filed for Chapter 11 bankruptcy in April on account of heavy debt and shifting consumer preferences.
The US unit secured $912.5 million in financing to proceed operations while selling most of its assets under court supervision.
Joselito D. Campos, Jr., DMPL and Del Monte Philippines, Inc. (DMPI) chief executive officer, said: “Our excellent results show the underlying strength and potential of our Asian business. With DMPL’s deconsolidation and complete write-down of its US investment and other assets, we’ve got a transparent path forward. We’re proactively working on capital initiatives on the DMPI level to reinforce our financial flexibility as we put money into growth.
On the Philippine Stock Exchange on Thursday, DELM shares closed 1.38% higher at P5.15 apiece. — Alexandria Grace C. Magno