Century Pacific Food, Inc. (CNPF), one of the Philippines’ leading food companies, saw its net income increase 7 percent in the first half of the year to P3.9 billion. The growth was driven by domestic demand, which tempered softness in its export business.
First-half revenue rose 5 percent year-over-year to P39.7 billion, the company said in a disclosure to the stock exchange.
Sales from its branded food business saw a 9 percent year-over-year growth, fueled by a double-digit increase in volume. On the other hand, overseas exports, which include both tuna and coconut export businesses, remained soft, falling 10 percent from the same period last year due to global uncertainty.
CNPF, however, said it is still aiming for high single-digit to low double-digit sales and profit growth, as its branded food business is expected to remain resilient amid stabilizing inflation.
“Our double-digit volume growth in Branded reflects the company’s deliberate and sustained efforts in brand building, pricing measures, and sales generation undertaken since last year,” said Chad Manapat, CNPF’s chief financial officer. “While easing inflation, particularly that of rice, provided some lift, consumers remain value-conscious, and demand for affordable offerings continues to be strong.”
For the first six months of the year, CNPF invested a total of P1.5 billion in capital expenditures, mostly for capacity expansion to support growth and sustainability initiatives.
“We continue to invest in the business with a long-term perspective, mindful of creating sustainable growth while delivering healthy returns to our shareholders,” Manapat said. “Our ambition is to grow at approximately twice the pace of GDP each year, anchored on our mission to make affordable nutrition accessible to more consumers.”
CNPF earlier renewed its long-term contract with The Vita Coco Company, Inc. The contract is valued at P14 billion and spans five years. The project, which will commence in January 2026, is expected to generate 4,500 jobs in General Santos, Mindanao.
