Del Monte Pac    Last:0.084    -0.004

Del Monte Results Announcement

Del Monte swings back into the black in Q1

THU, SEP 09, 2021 - 7:23 PM
 

CANNED food brand Del Monte Pacific Limited posted a net profit of US$18.3 million for the first quarter ended July 31, reversing from a loss of US$3.2 million for the same period a year ago.

Revenue rose 11.9 per cent to US$462.1 million, driven by higher sales in the US across almost all major segments, higher exports of S& W fresh pineapples as well as processed pineapples and other products.

The group, which is dual listed on the Singapore Exchange and the Philippine Stock Exchange, improved its margins by 600 basis points to 28.9 per cent from better sales of higher-margin branded products in the US and lower costs.

Earnings per share was 0.69 US cents, compared with a loss per share of 0.42 US cents previously.

No dividends were declared for this quarter and the prior year quarter as the group does not declare dividends based on first quarter and third quarter results.

The group' s US subsidiary, Del Monte Foods Inc (DMFI), generated sales of US$298.1 million or about 65 per cent of group sales. Improvement in supply and distribution gains led to higher volume across major categories, primarily canned vegetables and fruits. Its branded retail and food service sales grew by a combined 17 per cent which more than offset the decline in low-margin private label sales as planned, said Del Monte.

The group' s second largest and most profitable subsidiary, Del Monte PhiIippines Inc (DMPI) recorded higher sales of US$176.0 million, up 20 per cent versus the from a year ago on higher international market sales. This boosted net profit by 37 per cent to US$25.6 million.

DMPI benefited from the reduced corporate tax rate of 25 per cent with the passage of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act) in March 2021. More than half of DMPI' s sales are in the Philippines, with the balance in the international market.

The group said that the first quarter results are in line with earlier guidance that it expects to generate higher net profit for FY2022.

In its outlook, Del Monte said that it is proactively addressing inflationary impact from commodity headwinds and increased transportation costs through revenue and cost drivers including driving efficiencies and productivity across operations.

Barring unforeseen circumstances, the group expects to generate a higher net profit in FY2022.

Del Monte' s shares closed at 36.5 Singapore cents on Thursday, down 2 Singapore cents or 1.26 per cent. .
.
https://www.businesstimes.com.sg/consumer/del-monte-swings-back-into-the-black-in-q1


 

 

 

Del Monte and Vinamilk form joint venture

Del Monte Philippines, (DMPI), subsidiary of Del Monte Pacific, announced on Aug 16, it has forged a strategic alliance with Vietnam Dairy Products JSC (Vinamilk). DMPI and Vinamilk entered into a joint venture to expand into the dairy sector in the Philippines with both companies contributing 50% of the total investment capital. The joint venture will import dairy products from Vinamilk, and market and distribute them in the Philippines through DMPI. The joint venture with DMPI will leverage on Vinamilk' s long track record in the dairy industry spanning 45 years, Del Monte says. 

 

 

Rocketing tomorrow? https://links.sgx.com/1.0.0/corporate-announcements/3841XEFX22S96E0P/e1bb5c28bd01f9f70e0c494f4f5b4f242f260ebfdfd9d5941be5dac632ed2fb8

 

Last:0.375        +0.02
nice rebound
gd luck dyodd

ozone2002      ( Date: 11-Aug-2021 12:46) Posted: Last:0.355        +0.005 accumulate on big pull back gd dividends ard 1.2us cents ipo delayed but will happen later gd luck dyodd

 

This another one that has rested enough after T+4... should have some rebound play today...:):):)

 

Last:0.355        +0.005
accumulate on big pull back
gd dividends ard 1.2us cents
ipo delayed but will happen later
gd luck dyodd 

 

sorry, meaning? .. look slow recently, pineapples gives energy..
 

chongpin      ( Date: 05-Aug-2021 17:16) Posted: SGX:  Bid/Offer S$0.350/S$0.355  S$0.350-S$0.360  Last Done S$0.350 PSE: Bid/Offer  P13.64/P14.00  P13.26-P14.00  Last Done P13.66 or  S$0.36646  (S$/Peso @37.275)

 

SGX: 
Bid/Offer S$0.350/S$0.355  S$0.350-S$0.360  Last Done S$0.350

PSE:
Bid/Offer  P13.64/P14.00  P13.26-P14.00  Last Done P13.66 or 
S$0.36646  (S$/Peso @37.275)

 

SGX: 
Bid/Offer S$0.355/S$0.360  S$0.335-S$0.365  Last Done S$0.355

PSE:
Bid/Offer  P13.70/P13.78  P13.54-P14.50  Last Done P13.70 or 
S$0.3716  (S$/Peso @36.859)

chongpin      ( Date: 13-Jul-2021 10:45) Posted: SGX:  Bid/Offer S$0.405/S$0.410  S$0.405-S$0.415  Last Done S$0.410 PSE: Bid/Offer  P15.12/P15.16  P15.00-P15.18  Last Done P15.12 or  S$0.4066  (S$/Peso @37.190)

 

https://www.bworldonline.com/del-monte-philippines-p44-b-ipo-okd/

The original plan was:

Del Monte  Philippines  will  sell  699.33 million secondary common shares to the public for  as much as  P54.80 each, with an overallotment option of  as much as  104.899 million common shares. 

Peso to S$
P54.80 = S$1.49

 

 

Investors will have to hold on till a later date for Del Monte Philippine' s IPO...

https://www.businesstimes.com.sg/consumer/del-monte-unit-defers-philippine-ipo-amid-covid-19-surge

DEL Monte Pacific on Wednesday announced its decision to delay plans for the initial public offering (IPO) of its 87 per cent-owned subsidiary, Del Monte Philippines, on the Philippine Stock Exchange (PSE).

Citing adverse market conditions amid the recent surge of Covid-19 cases in the Philippines and the region,  Del Monte Pac: D03 0%  noted that the PSE has been highly volatile in recent weeks.

As such, its board believes that it is in the best interests of the group, along with its shareholders and investors, to defer the listing until conditions improve.

Del Monte said its board remains committed to listing Del Monte Philippines and " continues to believe strongly in the growth and resilience of its business" .

" During this time, the company will continue discussions with potential investors and strategic partners that have expressed interest during the IPO process," added the group in its filing.

 

del monte 1h
w3 dn 390 px hit 385 dn 188.6%
288.6% 355
388.6% 325

 

https://www.delmontepacific.com/sustainability/our-approach

Sustainability Performance

Our Approach   
We believe that conducting business is not just for profit but also for the betterment of people and stewardship of our planet.  Sustainability is one of the strategic pillars in our long-range plan as a testament to our commitment to sustain our future through our sustainability goals.   

Our Board of Directors ultimately oversees Del Monte' s sustainability strategy, which is developed together with our management team.  The Board meets with management to review sustainability objectives and performance, which encompasses environmental, social and governance factors affecting the Group.  Understanding stakeholders' requirement for transparency, we strive to ensure that Del Monte adheres to the highest governance standards in doing business.  For more information regarding our governance principles, please go to our website at    www.delmontepacific.com/corporate-governance.

Our sustainability strategy is developed by a cross-functional team composed of the leadership team and experts in different functional areas.  Each functional team implements and manages the programmes to address the key material priorities of the Group to achieve the sustainability goals.  This brings to life our vision to nourish families, enrich lives, every day.

 

Del Monte Philippines, known for its pineapple-based products and sauces, said the Securities and Exchange Commission has approved its initial public offering, with the listing on the local bourse scheduled for next month.

The IPO will  raise as much as 44 billion pesos ($874 million) from the maiden share sale, including the over-allotment option.  That makes it the country' s second-largest IPO this year, after Instant noodle and biscuit maker  Monde Nissin that had  raised 55.9 billion pesos from its market debut in June. 

The company confirmed to  Forbes  that the share sale will start from August 9 to 13, and listing on the Philippine Stock Exchange is scheduled on August 23. 

Major shareholders Del Monte Pacific and SEA Diner Holdings plan to sell 699.3 million Del Monte Philippines shares at a maximum price of 54.80 pesos, according to a registration  filed by the company to the Securities and Exchange Commission in Philippines.  The IPO comes with an over-allotment option of 104.9 million shares.   

The Philippines is  seeing an IPO boom this year, with the country' s stock exchange recording over 122 billion pesos in capital raised through IPOs and sale of existing shares in the first half of this year, surpassing the 104 billion pesos reported for the entire 2020.
 

 

https://www.delmontepacific.com/hubfs/pdf/DMPL_4QFY2021_PressRelease_FINAL.pdf Prospects Commenting on the Group' s prospects, Mr Campos said, " In an environment with increased emphasis on health and wellness, DMPL is well-positioned to respond to consumer trends, given our nutritious, long shelf-life products which enable consumers to prepare meals at home and build their immunity amidst the pandemic."   The Group, with its powerful portfolio of brands, including iconic Del Monte, S& W, Contadina and College Inn, is well-placed to grow in line with consumer demands for value and premium products and its vision of " Nourishing Families. Enriching Lives. Every Day." Del Monte' s strong brand equity and loyal following allows it to capitalise on growth opportunities through expansion into adjacent categories. The Group will continue to improve and expand its offering of trusted, high-quality products, while making these more readily available to consumers through traditional and digital channels, and through more convenient packaging formats. In the international market, it is positioned to unlock market opportunities in China while further penetrating underserved markets. DMPL is well-positioned to build on the momentum achieved in FY2021 and expects to offset the impact of commodity and transportation headwinds.  Barring unforeseen circumstances, the Group expects to  generate higher net profit in FY2022.

 

Del Monte Dividend History

https://www.dividends.sg/view/D03

Charity88      ( Date: 25-Jun-2021 15:17) Posted: https://www.delmontepacific.com/investors/results-and-reports   FY2021 (latest) & Past 5 Year Summary (from Annual Report 2020)               In US$m FY2021 FY2020 FY2019 FY2018 FY2017 FY2016 Turnover   2,162.7       2,128.3       1,954.8       2,197.3       2,252.8       2,274.1 Gross profit     556.0         452.2         395.0         432.5         494.9           485.8 Gross profit margin (%)       25.7           21.2           20.2           19.7           22.0             21.4               EBITDA     309.0         142.2         143.7         102.3         194.0           241.3 Operating profit     211.9           51.0           80.1           29.5         127.6       168.0 Operating profit margin (%)               9.8                                   2.4                                   4.1                                   1.3                                   5.7                                   7.4               Net profit/(loss)       63.3         (81.4)           20.3         (36.5)             24.4             57.0 Net profit margin (%)       2.9 na             1.0 na             1.1               2.5               Net debt   1,256.8       1,362.6       1,457.0       1,441.0       1,676.4         1,796.6 Gearing (%)     195.6         240.8         242.4         236.9         289.8           476.6

 

Fired up .... enjoy

 

SGX: 
Bid/Offer S$0.430/S$0.435  S$0.410-S$0.440  Last Done S$0.435
as at 12.00 noon
PSE:
Bid/Offer  P15.18/P15.20  P14.72-P15.20  Last Done P15.20 or 
S$0.4096  (S$/Peso @37.106)

 

Last:0.435        +0.025
rebound from technically oversold position
gd luck dyodd