Manila, September 12, 2024 - Del Monte Philippines, Inc. (DMPI), a subsidiary of Singapore-listed and PSE-listed Del Monte Pacific Limited (DMPL), announced strong financial results for the first quarter, marking a significant leap towards sustainable growth and profitability. DMPI achieved a 13% increase in first quarter sales to P10.
Manila, September 12, 2024 – Del Monte Philippines, Inc. , a subsidiary of Singapore-listed and PSE-listed Del Monte Pacific Limited , announced strong financial results for the first quarter, marking a significant leap towards sustainable growth and profitability.
The Philippine market delivered sales of P4.5 billion, reflecting a 6.5% expansion. This growth was supported by all key categories of packaged fruit, beverage, and culinary products exceeding targets and outperforming the same quarter last year. Under new sales leadership, DMPI has revitalized its brand presence with improved offtake, responding to the growing demand in modern trade and general trade/distributor operations, while successfully navigating rising food costs.
In the culinary segment, Pasta Sauce is leading growth with a comprehensive program centered around birthday celebrations. The Mixed Fruit category is also thriving, driven by the popularity of the Del Monte Fiesta brand as a delightful ingredient for desserts and the Today’s brand enhancing its presence in regional festivities. This strategy has resulted in a significant 4 percentage point increase in Del Monte’s market share in Mixed Fruit to an impressive 80.3%.
Luis Alejandro, DMPI President & Chief Operating Officer, commented on the impressive performance: “Our entire team at Del Monte has embraced the challenge, proactively addressing shortcomings, uncovering new opportunities, and working tirelessly to execute our turnaround plan.”
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