Quorn sinks parent firm’s financials; CEO, family pledge cash infusion

Philippines-based Monde Nissin Corp., parent company of Quorn, reported higher revenues and net income for its fiscal third quarter and the first nine months of 2023, but only because its Asia Pacific Branded Food & Beverage (APAC BFB) unit performed well.

Quorn results were down sharply year-over-year, to the point where — despite significant cost cuts in the unit in 2023 — Monde Nissin’s controlling shareholders, including its CEO, personally pledged what is likely to be…