Data from the Philippine Stock Exchange (PSE) showed a total of 59.06 million Monde Nissin shares worth P794.20 million were traded from July 4 to 8, making the stock 11th most actively traded in the local bourse last week. READ:
Data from the Philippine Stock Exchange showed a total of 59.06 million Monde Nissin shares worth P794.20 million were traded from July 4 to 8, making the stock 11Shares in the food manufacturer finished at P13.04 apiece on Friday, unchanged from their July 1 close. Monde Nissin has lost 16.9% since the P15.70 finish on the first trading day of the year.
“On the upside, the negative sentiment may somehow be tempered once the Philippine food regulators assured the public that it is still safe to consume the said products,” she added. On Thursday, Monde Nissin said it was aware of the information being shared about some of its products in an ongoing recall in the European Union and Taiwan caused by the presence of the chemical, commonly used to treat spices and seeds to control microbial growth.
Monde Nissin’s attributable net income went up by 4.4% to P2.33 billion in the first quarter from P2.23 billion a year ago. “We haven’t accounted for this yet in our forecasts and its potential impact on revenues, but as long as it will not affect the Philippine business , we think that topline impact could be minimal,” Mr. Latuja said.
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