Del Monte Philippines Inc. said profit for its first quarter ending July 31, 2021 reached P1.3 billion, up 33 percent from last year’s P977.44 million.
Sales reached P8.6 billion, up 16 percent from last year’s P7.41 billion.
“Del Monte Philippines achieved much higher earnings growth on improved sales and lower costs. More than half of Del Monte Philippines’s sales are in the Philippines, with the balance in the international market,” it said.
Del Monte Philippines’ sales in the international market grew 37 percent to P3.3 billion on robust sales of packaged fruit and beverages including premium packaged pineapple (Del Monte Deluxe Gold) in the USA, and S&W packaged products in Asia.
“The premium fresh fruit segment, mostly branded S&W MD2 pineapple, increased sales by 29 percent as it continued its recovery from the first quarter last year which was impacted by the pandemic in China, on the back of expanded distribution coverage with 747 new stores for the company’s top three distributors in China,” it added.
Del Monte Philippines sales in the Philippines reached P4.4 billion, down 2 percent.
Earnings before interest tax depreciation and amortization (EBITDA) reached P1.95 billion, up 16 percent from last year.
