FILE PHOTO Monde Nission Corp.
The robust performance of Monde Nissin Corporation’s food and beverage business caused a 45.5-percent surge in the first-semester earnings of the snack food maker despite continued losses in its alternative meat unit.
In a stock exchange filing on Wednesday, the maker of Lucky Me! instant noodles and SkyFlakes crackers said its net income during the quarter reached P5.1 billion, while revenues inched up by 3.1 percent to P40.14 billion.
The Asia-Pacific food and beverage segment recorded a 37.9-percent growth in profit to P5.6 billion driven by volume growth in noodles and other categories.
Sales saw a modest 3.9-percent growth to P33.3 billion.
Meanwhile, the alternative meat business under Quorn Foods pared its losses to P486 million from P546 million in the same period last year.
Monde said continuing softness in the category likewise resulted in flat sales at P6.8 billion.