Century Pacific posted double-digit profit growth in 2018

/ 05:18 AM April 17, 2019

Po family-led Century Pacific Food Inc. (CNPF), one of the Philippines’ leading food companies, grew its net profit last year by 11 percent to P2.8 billion as revenue hit a record-high due to robust sales of branded food products.

The double-digit growth in the company’s audited net income surpassed its earlier disclosed unaudited earnings growth of 9 percent.


“We are tagging 2019 as our year of innovation with the introduction of a number of new products in our pursuit of long-term and sustainable growth. We will also continue investing in our people, brands, facilities and supply chain, alongside an enterprise-wide initiative to monitor and measure environment, social, and governance metrics as well,” Oscar Pobre, CNPF’s chief finance officer, disclosed to the Philippine Stock Exchange.

Consolidated revenue rose by 15 percent year-on-year in 2018 to a record-high P37.9 billion, with the branded food business accounting for 74 percent of total.  Net income margin stood at 7.5 percent. Return on equity was steady at 18 percent.

The branded food business grew by 20 percent to P28 billion with all three sub-units—marine, meat, and milk products—posting higher sales on an expanding base.

Meanwhile, revenue from white-labelled products exported to other manufacturers reached P9.9 billion, equivalent to 26 percent of group sales.

Cash flow as measured by earnings before interest, taxes and depreciation (Ebitda) stood at P4.5 billion, rising by 14 percent for the year.

Ebitda margins stood at 11.9 percent, down by only 10 basis points, in spite of the local inflationary environment and rise in operating costs.

Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Century Pacific Food Inc., net profit, revenue
For feedback, complaints, or inquiries, contact us.

How to Get a House Loan?

September 19, 2019 03:43 AM


Drones Used in Latest Attack

September 19, 2019 03:43 AM


US Take on Defiant Israel PM

September 19, 2019 03:42 AM


Facebook Portal TV Priced at $129

September 19, 2019 03:41 AM

© Copyright 1997-2019 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.