DEL MONTE Pacific yesterday reported record sales of $381.5 million for 2008, 32 percent higher than the previous year, with the biggest driver coming from sales in the Philippines.

The Singapore-listed but Filipino-owned Del Monte reported that net income before non-recurring items surged 40 percent to $39.8 million.

?We are very pleased with what we achieved in 2008 especially in light of challenging global conditions,? said Joselito Campos Jr., Del Monte Pacific?s chief executive.

?Our team executed our strategies and growth plans and delivered commendable results.?

Despite the global economic slowdown, Del Monte?s fourth quarter sales still rose 16 percent to $122.4 million, while net profit before non-recurring items jumped 47 percent to $20.6 million.

Del Monte Pacific reported broad-based growth in 2008 with all the major markets posting higher sales.

The biggest driver was the Philippine market, where sales grew 37 percent largely on the back of the success of innovative juice drink Del Monte Fit ?n Right.

More favorable prices across all categories and increased coverage to 88,000 stores in December 2008 from 64,000 stores in December 2007 also boosted sales.

Exports to Europe, North America and Asia Pacific also increased due to better prices, while S&W had a full year of contribution in 2008.

Group gross profit improved 34 percent to $96.2 million as a result of higher volume and better prices. Del Monte Pacific said its margin improved to 25.2 percent from 24.7 percent, thanks to productivity enhancement and cost-savings programs. Operating income soared 47 percent to $56.9 million.

For 2009, continued new beverage and culinary product launches and distribution expansion were expected to drive sales in the Philippines, Campos said.

In India, Del Monte would be expanding its beverage and culinary products across more cities, tapping both the trade and food service sector.