Del Monte Pacific Ltd (DMPL) reported a first-quarter net profit of US$16.1 million for the three months ended 31 July 2026, up 193 per cent year-on-year, supported by robust international demand for fresh pineapples and packaged products. Group turnover rose 9.0 per cent to US$222.1 million, outweighing softer sales in the Philippines and higher input costs linked to the US-Iran conflict.

Earnings per share came in at 0.83 US cent, compared with 0.28 US cent a year earlier. The board reiterated that no dividends will be declared while the holding company’s equity remains negative.

Asia-Pacific continued to underpin the business, contributing US$47.6 million in operating income, up 17.3 per cent YoY, on turnover of US$195.1 million (+5.8 per cent). Operating profit from Europe more than doubled to US$4.1 million on a 71.0 per cent sales surge to US$19.5 million, mainly on stronger packaged pineapple exports. In the Americas, revenue fell 6.0 per cent to US$7.5 million, trimming operating income to US$1.5 million. Group operating profit expanded 14.1 per cent to US$41.0 million, while profit before tax rose 141.0 per cent to US$24.1 million.

Gross margin improved 120 basis points to 33.7 per cent as pricing actions and a richer sales mix offset commodity inflation. Cash flow from operations declined to US$57.6 million (–25 per cent YoY) owing to higher receivables tied to export growth. Capital expenditure edged up 8.4 per cent to US$47.1 million. Net debt stood at US$969.7 million, with net-debt-to-EBITDA easing to 5.1 times from 6.9 times a year earlier following continued repayments.

Management said it will concentrate on expanding Asian operations, preserving margins through pricing and productivity measures, and mitigating input-cost pressures caused by geopolitical tensions and the El Niño weather pattern. The group has opened restructuring talks with principal creditors aimed at creating a “sustainable capital structure”, and is considering selective asset disposals to bolster liquidity.

DMPL expects to remain profitable in FY2027 but cautioned that commodity volatility and exchange-rate movements could weigh on results. The company does not anticipate paying dividends until its capital deficit is resolved.