Del Monte Philippines generate slightly higher sales
While Del Monte Pacific Limited (DMPL) booked lower sales during the second quarter FY2018 results ending October, the Group’s second largest subsidiary, Del Monte Philippines, Inc (DMPI), managed to generate sales of US$134.0 million, up 2 percent versus the same quarter last year.
DMPL said that sales in the Philippines, the largest market of DMPI, were up in peso terms on better sales of packaged fruit as well as the foodservice channel.
DMPI’s sales comprise Philippines sales and exports.
Del Monte just recently launched the 100 percent Pineapple Juice in 1-Litre Tetra Pak to complete its 1-litre juice offering in the Philippines.
“Foodservice [in the Philippines] sales continued to grow, riding on the rapid expansion of quick service restaurants and convenience stores with partnerships and menu creation with major accounts,” DMPL said.
Overall, DMPL, the parent company of DMPI, booked an earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$28.6 million, lower than prior year quarter’s US$71.2 million. The Group also incurred a net loss of US$2.8 million versus prior year period’s net income of US$20.0 million.
“We have taken some challenging but necessary steps in the US to realign our manufacturing footprint and strengthen our competitiveness in the long-term, amidst shifts in consumer tastes and shopping preferences,” said Joselito D Campos, Jr, Managing Director and CEO of DMPL.
“We have also invested in brand-building to support our heritage brands in the United States and reinvigorate the categories we are in, while forging ahead with innovative products and entering new channels,” he added.