5 days ago
Century Pacific eyes low double-digit growth in 2025
Listed food manufacturer Century Pacific Food Inc. (CNPF) is looking to grow both its topline and bottom line by high single to low double digits in 2025, after the company reported a 7% increase in its net income for the first six months of the year.
CNPF said its net income grew by 7% to P3.9 billion, bringing the net margin up by 20 basis points to 9.8%.
Revenues increased by 5% to P39.7 billion, with branded sales—composed of marine, meat, milk, and other emerging segments—up 9%.
'We are aiming to deliver high single- to low double-digit topline and bottomline growth for 2025, supported by a resilient branded business,' CNPF chief financial officer Chad Manapat said in an emailed statement.
'By building and strengthening our diversified portfolio, we position the group to create a lasting value for our stakeholders and make a positive difference in communities we serve,' he added.
CNPF's brand portfolio includes Century Tuna, 555, Argentina, Birch Tree, Blue Bay, Fresca, Ligo, Swift, Wow, Lucky Seven, Angel, Coco Mama, unMEAT, Choco Hero, and Goodest.
'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,' Manapat said.
'While easing inflation, particularly that of rice, provided some lift, consumers remain value-conscious, and demand for affordable offerings continues to be strong,' he added.
The company spent P1.5 billion in capital expenditures in the January to June period, mainly for capacity expansion to support growth and sustainability initiatives.
Moving forward, Manapat said the company targets to grow at approximately twice the pace of the gross domestic product (GDP) each year. Economic officials say this year's GDP growth is expected to average between 5.5% and 6.5%.
Shares in CNPF were last trading at P34.00 apiece, down P1.00 or 2.86% from Tuesday's finish of P35.00 per share. —VBL, GMA Integrated News
