Brands, exports boost Century Pacific income to P5.8B
Century Pacific Food booked a 10-percent growth in net income during the nine months to September on the back of gains from its branded and export businesses.
The canned food maker reported on Thursday that its net income in the January to September period grew 10 percent to P5.8 billion.
Consolidated sales reached P61.8 billion in the period.
This came as the group saw stronger third quarter results, driven by its branded business and the recovery of its original equipment manufacturer (OEM) exports segment.
During this September quarter, Century Pacific’s branded segment’s sales improved by 18 percent. OEM exports, meanwhile, recovered with a 4-percent growth year-on-year.
“Certain domestic macroeconomic factors are supporting our volume-led growth, especially for a food company like ours that plays in staples. Stabilizing inflation, particularly lower rice prices, has somewhat improved purchasing power, which in turn increased demand,” said Chad Manapat, chief financial officer.
“We’re also pleased to see OEM exports turn around, with more clarity in the global trade dynamics, even as conditions remain fluid,” Manapat said.
To sustain this momentum, the group said it will continue exploring “strategic growth drivers.”
Earlier, the company acquired Loma Linda, a 130-year-old US-based heritage brand focused on plant-based alternatives.
The firm also beefed up its coconut-based capacity as it took over the operations of a processing facility in South Cotabato.
Manapat was bullish about the group ending the year with double-digit growth for both its bottom line and revenues.
“We remain optimistic about the Philippines’ growth story, anchored on a growing economy and favorable demographics that continue to drive long-term consumption. This is our backdrop as we plan for a solid finish and build momentum for 2026, guided by our mission to provide affordable nutrition to consumers,” Manapat said.
