Century Pacific Food sees 11% income growth, reaffirms full-year outlook – BusinessWorld Online
LISTED food and beverage manufacturer Century Pacific Food, Inc. (CNPF) is keeping its target of achieving double-digit revenue and profit growth this year despite tariff-related uncertainties.
“Our exposure to recent United States tariff actions is limited, though we continue to monitor developments closely. We navigate this dynamic environment with a keen eye on both risks and opportunities, recognizing that agility and responsiveness are key to sustaining our momentum,” CNPF Chief Finance Officer Richard Kristoffer S. Manapat said in a regulatory filing on Wednesday.
“Against this backdrop, we reaffirm our double-digit growth outlook for both revenue and profit — anchored on our mission of delivering accessible, affordable nutrition to the consumers we serve,” he added.
Mr. Manapat made these remarks as CNPF reported an 11% increase in first-quarter net income to P1.9 billion, driven by its branded segment. Consolidated revenue grew by 10% to P19.9 billion.
The branded segment posted a 13% sales increase, supported by a better consumer landscape amid easing inflation. The segment, which accounts for the bulk of the company’s sales, includes subcategories such as marine, meat, milk, and other emerging segments.
The original equipment manufacturer (OEM) tuna and coconut exports segment saw a 2% sales decline due to a high 2024 base and an unfavorable commodity cycle.
Operating expenses as a percentage of sales decreased by 70 basis points to 14.5% amid disciplined spending.
The earnings before income, taxes, depreciation, and amortization (EBITDA) margin was sustained at 14%, while the net profit margin remained stable at 9.6%.
“While it’s still early in the year, we aim to continue our growth trajectory in the coming quarters. We remain cautiously optimistic — mindful of ongoing global market volatility and cost-related headwinds,” Mr. Manapat said.
CNPF shares rose by 1.28% or 50 centavos to P39.50 apiece on Wednesday. — Revin Mikhael D. Ochave
