Del Monte Pacific Limited (DMPL) reported a net profit attributable to shareholders of US$9.96 million for the three months ended 31 Jan 2026, a four-fold increase from US$2.49 million a year earlier, as higher volumes and improved mix in its Philippine and international businesses lifted margins.
Turnover rose 19.8 per cent year-on-year (YoY) to US$243.78 million. Earnings per share climbed to 0.51 US cent from 0.13 US cent. The board did not declare any dividend; the group said it remains unable to pay dividends while its equity is negative following the FY2025 write-down of its former US operations.
Group gross profit expanded 36.9 per cent to US$79.78 million, pushing the gross margin up 4.1 percentage points to 32.7 per cent. Earnings before interest, tax, depreciation and amortisation (Ebitda) increased 27.7 per cent to US$94.34 million, while operating profit improved 23.8 per cent to US$35.68 million.
By geography, Asia-Pacific remained the growth engine, with revenue up 13.9 per cent YoY to US$209.9 million and operating income 26.1 per cent higher at US$45.55 million. Sales in the Philippines gained 5.0 per cent in US-dollar terms on steady demand for beverage and culinary lines. International markets posted a 33.9 per cent jump to US$110.8 million, driven by fresh MD2 pineapples and higher-margin S&W packaged fruit. Americas turnover grew 18.0 per cent to US$8.9 million, while Europe more than doubled to US$25.0 million on broad-based category growth.
Cost of goods sold fell to 67.3 per cent of turnover from 71.4 per cent a year earlier, reflecting lower tinplate and packaging costs, improved cannery yields and better product mix. Distribution and selling expenses edged up to 9.3 per cent of sales, tracking higher volumes.
Net cash generated from operations reached US$53.53 million, although this was 26.7 per cent below the prior-year quarter due to larger receivables from brisk export growth and seasonal inventory build-up. Capital expenditure was broadly steady at US$42.24 million.
Following the deconsolidation of its loss-making US subsidiary in May 2025, DMPL’s net debt on continuing operations was trimmed to US$990.05 million, down 3.8 per cent YoY. The net-debt-to-adjusted-Ebitda ratio improved to 5.9 times from 7.5 times.
Looking ahead, the group said it will focus on bolstering its Asian core. Priorities include strengthening market leadership in Philippine beverage, culinary and packaged fruit categories, expanding into convenience, food-service and other growth channels, and maintaining dominance in fresh MD2 pineapple exports to North Asia. Operationally, the company targets a more than 15 per cent productivity gain in its C74 pineapple variety and intends to keep inventories below 70 days. DMPL is also pursuing equity raising and continued divestment of its remaining stake in India’s Sundrop Brands to address its capital deficit.
The company reiterated that, with the US business now deconsolidated and a court-approved settlement in the Chapter 11 process, it does not expect material residual liabilities from the former US operations.