Del Monte Pacific Ltd. reported a net loss of USD35.9 million for the third quarter ended 31 January 2025 as higher operation costs and increased interest expenses at its U.S. subsidiary, Del Monte Foods Corp. II Inc. offset a 3 percent year-on-year increase in group sales to USD663 million.
For the first nine months of its fiscal year ending in April, Del Monte Pacific recorded a net loss of USD92 million, which was tempered by the 80 percent net profit growth to USD61 million delivered by Del Monte Philippines Inc. (DMPI).
For the third quarter alone, DMPI delivered strong results, with net profit rising by 83 percent to USD21.4 million. The growth was driven by export growth, a favorable sales mix, and cost-saving initiatives. DMPI’s domestic sales in the Philippines also saw a 4 percent increase, driven by robust demand in beverages, packaged fruits, and culinary products.
International sales were another bright spot, up 29 percent in the third quarter due to strong demand for fresh pineapple and packaged goods. Del Monte’s premium S&W Deluxe Pineapple, which received a prestigious 3-star rating at the Superior Taste Awards in January 2025, boosted its global reputation, particularly in China, South Korea, and Japan.
However, Del Monte Foods faced ongoing difficulties, reporting a net loss of USD40.5 million for the quarter. The decline was attributed to higher operational costs, unfavorable fixed cost absorption, and increased interest expenses. This performance continued to negatively impact the Group’s overall financial results, leading to a net loss of USD35.9 million for the quarter, compared to a loss of USD29.0 million in the previous year.
Despite these setbacks, Del Monte remains focused on growth through product innovation, market expansion, and operational efficiencies, aiming to strengthen its position in both domestic and international markets.
