Del Monte Pacific Ltd (DMPL) reported a net profit of US$48.4 million for the year ended 30 Apr 2026, broadly unchanged from the previous year’s US$48.9 million (-0.9 per cent year-on-year), as strong growth in Asian sales and fatter margins offset higher distribution costs and foreign-exchange losses.

Earnings per share came in at 2.49 US cents, versus 2.51 US cents a year earlier. The board did not declare a dividend, citing the group’s negative equity position following the FY25 write-down and deconsolidation of its US business.

Full-year turnover rose 13.5 per cent to US$896.1 million, powered by a 11.6 per cent increase in Asia-Pacific revenue to US$785.8 million. Europe grew 36.3 per cent to US$80.3 million, while the Americas advanced 13.7 per cent to US$30.1 million. Group operating profit improved 10.1 per cent to US$161.5 million, and EBITDA expanded 26.2 per cent to US$181.1 million, helped by a 4.8-point gross-margin uplift to 33.2 per cent, largely driven by price increases and a richer sales mix featuring higher-margin S&W Deluxe pineapples.

By segment, Asia-Pacific contributed US$179.5 million of operating profit, up 32.6 per cent YoY, buoyed by higher Philippine sales and record fresh-fruit exports to China, Japan and the Middle East. The Americas posted US$5.0 million (+81.9 per cent), while Europe delivered US$19.4 million (+172.5 per cent).

Fourth-quarter figures showed turnover up 11.4 per cent to US$213.7 million, though net profit slipped to US$10.1 million from US$43.7 million a year earlier, which had been lifted by a one-off gain from an India share-swap transaction. Stripping out that gain, underlying net profit more than tripled on stronger margins.

Headwinds included a US$15.4 million full-year foreign-exchange loss, reflecting a weaker Philippine peso, and higher distribution and selling expenses, which climbed 19.8 per cent to US$84.8 million as volumes grew. Net debt fell 5.5 per cent to US$977 million, bringing the net-debt-to-EBITDA ratio down to 5.4 times from 7.2 times.

Strategic priorities now centre on expanding Del Monte Philippines’ leadership in beverages, culinary products and packaged fruit; boosting overseas sales of premium MD2 pineapples; and executing a capital-structure reset aimed at deleveraging the Philippine unit while addressing the holding company’s negative equity. The group is also managing commodity volatility linked to Middle East tensions, planning pricing actions and cost-savings initiatives, and preparing for potential supply disruptions from El Niño.

Management expects the company to stay profitable in FY27, while cautioning that geopolitical developments could inject earnings volatility.