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Century Pacific Food posts P4.2 billion net income from January to September

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ABS-CBN News

<p><br/>MANILA - Century Pacific Food Inc on Thursday said its net income for January to September hit P4.2 billion, higher by 6 percent compared to the same period last year, thanks to strong revenues and domestic demand.</p><p>Consolidated revenues for the first 9 months of the year reached P47 billion, up 14 percent from the same comparable period, the Century Tuna-maker said in a disclosure to the stock exchange.</p><p>The growth in consolidated revenues is driven by the 17 percent increase in the branded business composed of marine, meat, milk and other emerging segments, the food and beverage firm said. </p><p>Meanwhile, its tuna and coconut export business, which was hit by higher shipping costs earlier this year, has recovered due to easing supply chain pressures, CNPF said.</p><p>“Volatile operating conditions and uncertainty set the scene in 2022, but these were cushioned by the Philippine economic reopening and a receding pandemic. As such, the economy continues to rebound,<br/>but Filipino families are still prioritizing their spending,” said CNPF’s Chief Financial Officer, Richard Manapat.</p><p>“As a food company that endeavors to deliver affordable nutrition, we have a wide array of brands that cuts across multiple price tiers – from value for money to mass market, all the way up to affordable premium. In this way, we’re able to provide food options that cater to varying consumer needs,&quot; he added.</p><p>Aside from Century Tuna, CNPF brands also include 555, Argentine and Birch Tree.<br/> </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/24/21/century-tuna-maker-to-buy-ligo-brand">Century Tuna maker to buy &#x27;Ligo&#x27; canned sardines brand</a></li>	<li><a href="https://news.abs-cbn.com/business/12/28/21/antitrust-body-urges-unionbank-century-pacific-food-to-review-ma-deals">Antitrust body urges UnionBank, Century Pacific Food to review M&amp;A deals</a></li>	<li><a href="https://news.abs-cbn.com/business/07/08/22/century-pacific-food-launches-fish-free-tuna">Century Pacific Food launches fish-free tuna</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2323110" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div><div> </div>

Century Pacific Food Inc on Thursday said its net income for January to September hit P4.2 billion, higher by 6 percent due to strong revenues and domestic demand.