Higher prices of edible oil continued to take a bite out of the core profit of food manufacturing giant Monde Nissin Corp., with its first nine months showing a 3.5-percent earnings decline.
In a disclosure Wednesday, Monde Nissin said its core net income attributable to shareholders fell to P7.19 billion from P7.45 billion a year earlier.
Production costs during the period rose 6 percent to P42.23 billion from last year’s P39.79 billion.
Its Asia-Pacific branded food and beverage (APAC BFB), however, booked higher revenues reaching P53.3 billion, up 4.4 percent from a year ago.
For the third quarter alone, the segment realized a 4-percent growth.