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Century Tuna maker income up 24 pct as pandemic boosts canned food demand

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ABS-CBN News

<p>MANILA - The maker of a popular brand of canned tuna reported strong earnings last year as the pandemic pushed up demand for its products. </p><p>Century Pacific Food Inc posted a net income of P3.9 billion in 2020, up 24 percent versus the year before, the company disclosed to the stock market on Wednesday.</p><p>Consolidated revenues last year grew by 19 percent, to P48.3 billion, driven primarily by sales of its marine, meat, and milk products.</p><p>“We saw robust demand for our branded products all throughout 2020 – beginning with a strong pre-COVID 19 performance, followed by pandemic-related demand spikes, then sustained growth to wrap up the year due largely to the essentials and staples nature of our portfolio,” said Christopher Po, Century Pacific&#x27;s executive chairman. </p><p>Po added that the company will release new products &quot;over the next 12 to 18 months.&quot;</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/24/21/century-pacific-launches-100-pct-meat-free-product-line-unmeat">Century Pacific launches 100-pct meat-free product line &#x27;unMEAT&#x27;</a></li>	<li><a href="https://news.abs-cbn.com/business/10/15/19/century-tuna-maker-to-supply-fish-coconut-milk-products-to-russian-firms">Century Tuna maker to supply fish, coconut milk products to Russian firms</a></li></ul><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/fDEvaxnhzmw?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Century Pacific Food Inc posted a net income of P3.9 billion in 2020, up 24 percent versus the year before, the company disclosed to the stock market on Wednesday.<br /> </p>

Century Pacific Food Inc posted a net income of P3.9 billion in 2020, up 24 percent versus the year before, the company disclosed to the stock market on Wednesday.