Monde Nissin sees increased revenues

Food producer Monde Nissin Corp. said Thursday it expects revenues to grow by mid-single digit this year as businesses continue to regain momentum despite the pandemic.

Monde Nissin chief financial officer Jesse Teo said in a virtual press briefing full-year net income would post a margin decline as the company continued to spend on marketing and product development to boost brand awareness.

The company implemented a price increase for noodles and biscuits in June. Monde Nissin chief executive Henry Soesanto said the price increases should partly alleviate the pressure on gross margins.

He said the company was mindful of the difficult circumstances of consumers. “The recently-announced stringent quarantine in the National Capital Region and some other parts of the country will be difficult for many,” he said.

Monde Nissin said unaudited core net income declined 12.9 percent in the first half to P4.3 billion from the same period last year because of investments in product development.