Century Pacific maintains double-digit growth target for 2025

Listed food manufacturer Century Pacific Food Inc. (CNPF) has kept its double-digit growth target for its top and bottom line this year, following the 15% growth in its net income for the third quarter.

CNPF reported a 15% growth in its net income for the third quarter, driven by the growth of its branded business and the recovery of its original equipment manufacturing (OEM) exports during the period.

Its third quarter consolidated revenues grew 15% to P22.1 billion, as its branded segment saw an 18% increase in sales while the OEM exports posted a recovery during the three-month period.

“We continue to put in the work and aim to deliver double-digit top line and bottom line growth in 2025, supported by our all-weather business model,” CNPF chief financial officer Chad Manapat said in a regulatory filing.

Manapat in August said the company aimed to deliver high single- to low double-digit growth in 2025, following the 7% increase in its net income for the first half of the year. 

This comes as the company’s year-to-date net income after tax rose 10% to P5.8 billion, as consolidated net sales increased to P61.8 billion.

“The group’s performance can be attributed to the company’s all-weather portfolio, with both domestic and international legs,” Manapat said.

“Certain domestic macroeconomic factors are supporting our volume-led growth, especially for a food company like ours that plays in staples,” he added.

Last month, CNPF said it would invest $45 million through its wholly-owned subsidiary Coco Harvest Inc. to acquire and upgrade a coconut processing facility in Tupi, South Cotabato. —VBL, GMA Integrated News