Monde Nissin Corp. reported Wednesday that its core income climbed 16 percent to P5.49 billion in the first half of the year, up from P4.73 billion in the same period last year, driven by stronger sales of biscuits and other newer product lines.
Total net sales for the six-month period rose 7 percent to P44.29 billion, compared with P41.45 billion a year earlier.
The company’s branded food business across the Asia Pacific region grew 6 percent to P36.91 billion, from P34.86 billion. Its plant-based meat segment also posted a 12-percent increase, reaching P7.38 billion from P6.59 billion the year before.
Chief executive officer Henry Soesanto said the branded food business saw steady growth in the second quarter, led by biscuits and priority product areas.
“Careful pricing, cost controls, and currency hedging helped lift gross margins compared to last year. However, gross margins fell by 2.03 percentage points from the first quarter, due to normalizing sales discounts and rising production costs—especially higher energy costs linked to the Middle East crisis,” Soesanto explained.
“Even with these outside challenges and higher shipping costs tied to the crisis, we still earned more than last year. Gains from our U.S. dollar hedges also helped support results,” he added.
Soesanto noted the plant-based protein business continued to improve in the second quarter, with revenue up 2.7 percent when adjusted for currency changes, led by better sales in snack products.
“We remain aware of ongoing cost increases. We will keep managing our operations carefully, and will consider price adjustments only when needed, while keeping our customers in mind,” Soesanto said.
