MANILA, Philippines — Monde Nissin Corporation announced a 21% increase in its net income for the first nine months of the year, driven by steady recovery in its meat-alternative business and solid performance across its branded food operations.
In its regulatory filing with the Philippine Stock Exchange, the company reported that net income rose to ₱8.1 billion from January to September, compared to ₱6.7 billion during the same period last year. Core net income grew 16% to ₱8.3 billion.
Consolidated revenues also expanded by 7.3% to ₱67.9 billion for the nine-month duration, and by 8.2% to ₱23.6 billion during the third quarter alone.
The company’s Asia-Pacific Branded Food and Beverage (APAC BFB) sector registered a 6.5% sales increase to ₱56.8 billion for the nine-month period, propelled by pricing adjustments and higher sales volumes in biscuits and strategic growth categories. Meanwhile, domestic operations grew by 6.7% to P53.5 billion.
“We delivered continued growth in our APAC BFB business in the third quarter, supported by pricing and volume growth in biscuits and our strategic growth category,” said Monde Nissin Chief Executive Officer Henry Soesanto.
He added, “Our domestic business also performed strongly during the quarter, while gross margin improved year-on-year.”
The company’s overall gross margin widened by 101 basis points to 35.8% for the nine months, aided by disciplined cost management and lower coconut oil prices, which helped offset rising packaging expenses and foreign exchange pressures.
Monde Nissin’s meat-alternative segment, featuring the Quorn brand, recorded an 11.6% revenue increase in reported terms, or 2.2% on a constant-currency basis, supported by retail expansion in the UK snacking market. The segment’s gross margin significantly improved by 664 basis points to 31.6% for the nine-month period due to ongoing transformation initiatives and a better product mix.
“Our Protein business continued to make progress, with revenue growth on a constant-currency basis and strong growth in gross profit. We maintained positive EBIT for the third consecutive quarter and remain ahead of our glide path, reflecting the benefits of our transformation initiatives, disciplined cost management, and the growing success of our Positive Protein strategy,” Soesanto noted.
Looking ahead, management stated it will maintain a close watch on macroeconomic conditions, input costs, and geopolitical developments.
“We will continue to monitor developments in input costs, foreign exchange, consumer demand, and the broader geopolitical environment, including the ongoing Middle East crisis,” Soesanto concluded.