Singapore Exchange Mainboard and Philippine Stock Exchange dual-listed Del Monte Pacific Limited (DMPL) has reported a net profit of US$5.7 million ($7.40 million) for the 4QFY2025 ended April 30.
This is a reversal from a net loss a year ago as the group has deconsolidated its US operations with effect from May 1. Going forward, the group will report its financial performance and outlook on a continuing operations basis excluding the US business.
For the full year which took place from May 1, 2025 to April 30, 2026, net profit ex-US came in at $10.9 million, also a reversal from a net loss on higher sales and margins.
For the quarter, turnover grew 5.4% y-o-y to US$191.1 million, and gross profit grew 25.1% y-o-y to US$57 million. This growth was due to higher sales in the Philippines, attributable to a better sales mix, higher sales of S&W Deluxe fresh pineapples, along with better pricing across all markets.
For the full year, turnover came in 11.1% y-o-y higher at US$789.5 million, and gross profit grew 30.1% y-o-y to US$224 million. Similarly, this is due to higher sales in the Philippines and the international markets. There was also a favorable impact of weaker peso on export sales.
Operating cash flow came in at US$346.5 million as at April 30, and net debt/ebitda ratio improved to 7.4 times from higher profit and debt reduction.
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US business
On its US business, sales declined 12% y-o-y to US$364.8 million for 4QFY2025 due to soft demand, increased trade spend and shifting preferences. After a significant asset impairment of US$703.5 million, consistent with earlier announcements, discontinued operations reported a net loss of US$787.8 million.
For the full fiscal year 2025, the net loss for Discontinued Operations totaled US$892.4 million.
Shares in Del Monte closed 0.4 US cents lower or 4.301% down at 8.9 US cents on July 31.
