CENTURY Pacific Food Inc. (CNPF), one of the leading branded food and beverage companies in the Philippines, concluded the year 2023 delivering consistent, profitable growth despite the inflationary environment.
Net income after tax amounted to P5.6 billion, up 12 percent versus the previous year.
Consolidated sales amounted to P67.1 billion, an increase of eight percent compared to 2022, delivering growth atop a challenging base.
CNPF has been demonstrating consistent revenue growth for the past five years with a compounded annual growth rate of 13 percent.
In 2022, revenues increased by 14 percent year-on-year.
CNPF’s 2023 topline performance was fueled by the performance of branded business, outweighing the softness of the original equipment manufacturer exports segment.
The branded segment is the primary growth driver of CNPF, comprising the majority of the group’s sales.
It is composed of marine, meat, milk and other emerging segments, such as pet food, coconut, refrigerated food and plant-based alternatives. / PR