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MANILA, Philippines – Strong export and branded sales lifted the profit of Po family-led Century Pacific Food Inc. (CNPF) by 14 percent in 20224 to P6.3 billion, with the company expecting to sustain growth this year despite global trade woes.
In a stock exchange filing on Tuesday, the maker of Century Tuna, Argentina Corned Beef and Angel Evaporada said its revenues likewise climbed by 12 percent to P75.5 billion. According to CNPF, its sales growth was buoyed by original equipment manufacturing (OEM) exports, particularly tuna and coconut-based products, with the segment’s revenues surging by 36 percent.
READ: Century Pacific 9-month profit rose 14% This was due mainly to a low base, favorable input costs and “robust global demand for healthy and nutritious products,” according to CNPF. Despite a soft consumer environment, the branded segment, which accounts for the majority of CNPF’s total sales, booked a 7-percent rise in revenues on the back of volume growth. The segment is composed of marine, meat and milk products, among others.
“Diversification allowed us to navigate economic headwinds more effectively, with exports benefiting from a favorable commodity cycle and global demand—providing uplift amid a subdued domestic environment,” CNPF chief financial officer Chad Manapat said in their disclosure. Recognizing the volatile global trade environment following US President Donald Trump’s tariff imposition, Manapat said they would “tread 2025 with caution,” pointing out that their “diverse and resilient” portfolio would shield them from headwinds. “We’re already seeing signs of a better consumer environment as we enter 2025,” the CFO noted.
“While that gives us reason to be optimistic, we remain mindful of lingering uncertainties on the cost side and ongoing shifts in the global trading environment.” CNPF currently exports its tuna and coconut-based products to parts of North America, Africa, Asia, Europe, the Middle East and Oceania. Last year, CNPF chief operating officer Gregory Banzon said they were looking at North America and the Middle East for their international expansion of Coco Mama, the company’s coconut milk brand, especially since these regions had strong Filipino presence.
READ: CNPF invests $40M in Misamis coco plant The product, which is used in cooking Filipino food such as “laing” and Bicol express, is currently only available locally, with high domestic demand keeping CNPF from offering it abroad. Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy .
Last year, CNPF took over Coco Harvest Inc. for $40 million as a result of the extension of its supply agreement with global coconut water brand Vita Coco. Coco Harvest is a producer of coconut water, coconut milk, desiccated coconut and virgin coconut oil based in Misamis Occidental province.
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