Billionaire Betty Ang’s food maker Monde Nissin Corp. on Monday bared core net income falling more than 11 percent to P1.87 billion, its alternative meat business diminished sharply by high inflation. A year earlier the business reported core net income aggregating P2.12 billion.
Gross revenues grew 9 percent to P20.04 billion from P18.29 billion attributed to robust domestic noodles sales.
Its Asia Pacific Branded Food and Beverage sales increased 15 percent to P16.52 billion from only P14.32 billion, driven by volume growth and price increases in all food categories.
Its domestic business grew 15 percent to P15.5 billion.
Alternative meat revenue fell 4 percent.
