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Manila Bulletin devider Business devider The Stock Market devider Del Monte earnings bounce back as US divestment bears fruit

Del Monte earnings bounce back as US divestment bears fruit

Published Jun 26, 2026 10:53 am
Luis F. Alejandro, DMPI President and Chief Operating Officer (left); and Joselito D. Campos, Jr., DMPI President and Chief Operating Officer (right)
Luis F. Alejandro, DMPI President and Chief Operating Officer (left); and Joselito D. Campos, Jr., DMPI President and Chief Operating Officer (right)

Campos-led Del Monte Pacific Ltd. (DMPL) reported that its net profit surged sixfold to $48.4 million for its fiscal year (FY) ended April 30, 2026, from the $8 million earned in the previous FY as its United States (US) divestment begins to bear fruit.

In a disclosure to the Philippine Stock Exchange (PSE) on Friday, June 26, the firm said the figures exclude the $704.1-million write-down in the prior FY from the sale of its loss-making US subsidiary and the $40.8-million gain from the sale of its investment in India.

The higher earnings reflect stronger sales, gross margin expansion, and improved operating income. These gains were partly offset by unrealized foreign exchange (forex) losses driven by the impact of the weaker Philippine peso on year-end translation.

DMPL reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of $181.1 million, 26.2 percent higher than the previous FY, while operating profit rose 10.1 percent to $161.5 million from $146.7 million.

The firm said it achieved sales of $896.1 million, 13.5 percent higher than the $789.5 million recorded in the prior FY, driven by strong growth in international exports of fresh and packaged pineapple products as well as higher sales from the Philippines.

The Philippine market generated sales of $397.8 million, up 7.9 percent in peso terms and 7.5 percent in US dollar terms from the prior FY.

The increase was driven by higher sales across all key categories, including packaged fruit, beverages, culinary products, and new product offerings, as well as favorable pricing and sustained demand across general trade, modern trade, and foodservice channels.

In beverages, DMPL continued to strengthen its leadership through functional campaigns focusing on the health benefits of its products, while innovation further supported growth.

In culinary essentials, DMPL drove penetration by positioning tomato sauce as a nutrient-rich ingredient with lycopene, vitamins A and C, and iodine to improve family nutrition.

In packaged fruits, mixed fruits increased market share by extending usage beyond holiday occasions into year-round celebrations and everyday desserts. At the same time, nutrition-led campaigns expanded the role of pineapple as a superfruit for everyday cooking.

DMPL sustained its market leadership across key categories in the Philippines, growing its market shares in spaghetti sauce and packaged fruit.

International sales grew by 15.6 percent to $417 million, primarily driven by robust demand for fresh pineapple in China, Japan, and the Middle East. The growth was supported by higher export volume and improved pricing.

In Japan, fresh pineapple sales increased by 22.6 percent due to higher demand for fresh-cut pineapple in retail, as well as the entry of S&W deluxe pineapple in all 243 Seiyu outlets.

The company sustained its market leadership in fresh pineapple in north Asia and achieved a 55-percent market share, up three percentage points (ppts). - James A. Loyola

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