Del Monte Pacific Q2 net profit jumps seven times to US$16.8 million

[SINGAPORE] Mainboard-listed Del Monte Pacific said on Monday (Nov 17) that its net profit for its second quarter of FY2026 rose to US$16.8 million from US$2.3 million in the year-ago period. This marked an increase of around 630.4 per cent.

The improvements reflected strong operational efficiency and market demand, the canned food brand said in its Q2 business update, ahead of its investor presentation due for release on Dec 10.

Total sales grew 10 per cent year on year to US$234.9 million, driven by both domestic Philippines and international businesses, particularly fresh pineapple exports, the company said.

Its Philippines sales increased 9 per cent in peso terms and 7 per cent in US dollar terms to US$121.7 million on higher volume and better pricing.

Del Monte Pacific said: “Strong demand for packaged pineapple and the expanded year-round use of mixed fruits led the Philippine growth. Nutrition-led initiatives positioning pineapple as an everyday superfruit further strengthened consumer preference for natural, immunity-building options.”

Meanwhile, its international sales grew 7 per cent to US$90.6 million, fuelled by “robust exports” of fresh pineapple. The group recorded increased sales volumes for fresh pineapple, NFC juice and frozen pineapple.

Del Monte Pacific noted that the fresh fruit business led the growth, with a 23 per cent expansion from continued sales, and improved sales mix and strong pricing. The NFC juice segment grew 49 per cent amid higher China and Europe sales and the frozen pineapple sales climbed 21 per cent due to a favourable product mix and strong pricing.

Its gross margin improved by close to 700 basis points to 34.2 per cent from 27.6 per cent in the previous corresponding period, amid higher sales and lower production costs.

The company also grew its North Asia market share for imported pineapples to 51 per cent, which it said has strengthened its leading position as a fresh pineapple supplier.

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For the first half of FY2026, Del Monte Pacific’s net profit jumped to US$22.3 million from US$2.7 million due to higher sales and strong margin expansion.

For the six months, its sales rose by 11 per cent year on year to US$438.6 million amid a 16 per cent surge in fresh pineapple sales and 10 per cent growth from the Philippines business.

Its gross margin for the half year improved 580 basis points to 33.4 per cent, from 27.6 per cent in the year-ago period, driven by improved pricing across all segments and lower production costs from higher pineapple recovery.

The counter ended Friday flat at S$0.086.