Monde Nissin Corp. returned its struggling Quorn meat-free protein business to operating profitability in the first nine months of 2026, helping lift group earnings and giving the food manufacturer room to raise its cash dividend.
Core net income attributable to shareholders increased 16.1 percent to P8.3 billion, while consolidated revenue grew 7.3 percent to P67.9 billion. Reported net income rose 20.8 percent to P8.1 billion.
The protein business generated earnings before interest and taxes (EBIT) of P319 million, reversing a P79-million loss in the same period last year, as restructuring gains, improved product mix, and selective price increases helped restore margins.
“We maintained positive EBIT for the third consecutive quarter and remain ahead of our glide path,” chief executive Henry Soesanto said.
Quorn revenue increased 11.6 percent in peso terms, although growth was a more modest 2.2 percent at constant exchange rates, reflecting the effect of currency movements. Snacking products sold through UK retailers provided much of the sales momentum.
Its gross margin widened to 31.6 percent from 25 percent a year earlier, pointing to improved operating economics as the business works through its restructuring.
The recovery adds to the performance of Monde Nissin’s larger Asia-Pacific branded food and beverage business, which remained the group’s principal earnings contributor. Sales in the segment rose 6.5 percent to P56.8 billion, with Philippine revenue increasing 6.7 percent to P53.5 billion.
Domestic sales also grew 9.7 percent from the second quarter, supported by higher volumes across all product categories.
Third-quarter reported net income, however, edged up only 0.5 percent to P2.3 billion, partly weighed down by a P513-million noncash valuation loss on the protein business guaranty asset.
Reflecting its earnings growth and excess cash position, the board approved a dividend of P0.26 per share, an 8.3-percent increase. Payment is scheduled for December 23 to shareholders on record November 25.
