Century Pacific nets P6.3 billion in 2024, up 14%

Food manufacturer Century Pacific Food, Inc. (CNPF) saw a double-digit bottom line growth in 2024 amid strong sales across its export and branded product segments.

In a news release on Tuesday, CNPF reported a net income of P6.3 billion last year, up 14% year-on-year.

This was on the back of a 12% growth in sales to P75.5 billion which was driven by its exports and branded goods businesses.

CNPF’s export business, which includes tuna and coconut products, saw its sales jump by 36%; while branded products, which include items like marine, meat, and milk, had a 7% increase in sales this year. 

Chad Manapat, CNPF chief financial officer, said the company’s 2024 financial performance can be attributed to CNPF’s diverse portfolio of products.

“Diversification allowed us to navigate economic headwinds more effectively, with exports benefiting from a favorable commodity cycle and global demand—providing uplift amid a subdued domestic environment,” said Manapat.

“We’re already seeing signs of a better consumer environment as we enter 2025. So far, our first quarter has gone as planned,” he said, adding “that gives us reason to be optimistic, we remain mindful of lingering uncertainties on the cost side and ongoing shifts in the global trading environment.”

“We plan to tread 2025 with caution—remaining agile and responsive to change. We believe our diverse and resilient portfolio equips us well to navigate these crosswinds and continue delivering on our aspiration of double-digit growth—while staying true to our purpose of delivering affordable nutrition to the market,” he added. — Ted Cordero/BM, GMA Integrated News