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Monde Nissin Corp. said profit for the first half of the year reached P204 million, down 96.4 percent from the prior year’s P5.64 billion.
Sales reached P33.36 billion, up 1.2 percent from P33.76 billion last year.
The company said the drop in bottomline is attributable to “non-core and non-recurring items such as price difference and interest on redemption of the Arran Investment Pte. Ltd. convertible notes at the initial public offering (IPO) price of P13.50 per share, IPO-related expenses, and deferred tax liability adjustments reflecting revised corporate tax rules in the UK.
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