DEL Monte Pacific Ltd. (DMPL) posted double-digit sales growth in the fiscal year (FY) ended April 2026, driven by stronger demand in the Philippines and robust exports of fresh and packaged pineapple products.
In a disclosure, Del Monte said full-year group sales rose 13.5 percent to $896.1 million from $789.5 million while gross profit climbed 32.9 percent to $297.7 million on improved pricing, a better sales mix and lower production costs.
The Philippine business generated $397.8 million in sales, up 7.5 percent year on year in dollar terms, supported by higher demand for packaged fruits, beverages, culinary products and new offerings, as well as favorable pricing across retail and food service channels.
International sales increased 15.6 percent to $417 million, fueled by higher exports of fresh pineapples to China, Japan and the Middle East alongside improved pricing, particularly for its premium S&W Deluxe Pineapple.
Operating profit rose 10.1 percent to $161.5 million while net profit from continuing operations stood at $48.4 million, nearly unchanged from $48.9 million a year earlier.
For the fourth quarter alone, revenue climbed 11.4 percent year on year to $213.7 million while net profit from continuing operations fell 76.9 percent to $10.1 million.
The company said the decline was mainly due to a high base in the previous year, which included a one-time $40.8-million gain from an India share swap transaction. Excluding the one-off, fourth-quarter net profit more than tripled.
Del Monte also continued to strengthen its balance sheet, reducing net debt by 5.5 percent to $977 million from $1.03 billion a year earlier through debt repayments.
The company said it completed the deconsolidation of its US business beginning May 1, 2025, after fully impairing its investment following the subsidiary’s Chapter 11 bankruptcy proceedings.
Del Monte said the move removed about $1.5 billion in liabilities from the group’s consolidated balance sheet, adding that it did not expect to recover any value from its equity investment in the US operations.
The company also clarified that it was in no position to declare dividends despite reporting a full-year profit.
“However, despite the strong profitability in FY2026, the Group cannot declare dividends due to its negative equity position,” it said.
Looking ahead, Del Monte said it expected to remain profitable in fiscal year 2027 while conceding that geopolitical tensions could weigh on performance.
“Following a strong FY2026 performance, DMPL expects the business to achieve profitability in FY2027 although it may experience volatility from the impact of the US-Iran war,” it said.
The Singapore and Philippine-listed company said it intended to continue strengthening its Philippine business, sustain its leadership in the North Asian fresh pineapple market, manage commodity cost pressures and pursue debt restructuring initiatives.
Del Monte Pacific shares on Friday rose P0.23, or 5.37 percent, to close at P4.51 each.
