Century Pacific nets P1.36B

LEADING canned food company Century Pacific Food Inc. (CNPF) grew its first half net income by 46 percent to P1.36 billion, driven by robust demand for its branded food products.

For the second quarter alone, net income amounted to P725 million, a 46 percent growth from last year and a 14 percent increase from the quarter before.

Year-to-date revenues grew by 15 percent to P13 billion. Second quarter revenues also grew by 3 percent compared to the first three months of the year.

“Top line growth across our 3 M’s – Marine, Meat, and Milk – continues to be driven almost completely by increases in volume.These can be attributed to our various sales and marketing campaigns, plus a strong local economy boosted by electionspending,” said CNPF’s Chief Finance Officer Oscar Pobre.