Del Monte Pacific Ltd. (DMPL) profit in the first half of its fiscal year ending April 2022 hit $54.1 million, almost triple of its $18.6 million profit the prior year.
Sales as of Oct. 31, 2021 reached $1.1 billion, up 7 percent from $1.03 billion, on higher US and international sales.
“EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 33 percent to $182.3 million. DMPL increased its margins significantly by 350 basis points to 28 percent,” the company said.
For its second quarter ending October 31, DMPL registered profit of $35.8 million, up 64 percent from $21.9 million last year. Sales stood at $651 million, up 4 percent, due to improved sales in the US and international markets.
DMPL said US unit Del Monte Foods Inc. (DMFI) generated sales of $477.5 million or 73 percent of group sales for the second quarter, up 7 percent on strong branded retail sale, while sales of low-margin private label were reduced as planned.
Its Philippines’ operation under Del Monte Philippines Inc. (DMPI) posted sales of $186.1 million, up 3 percent led by international market sales.
