Century Pacific Food Inc. , the Po-led food canning firm, said its income rose 8 percent to P3.19 billion in January to June, from the previous year’s P2.95 billion, mainly due to its strong performance in the second quarter.For the second quarter alone, the company’s revenues rose 9 percent to P17.82 billion from the previous year’s P16.48 billion, as its branded business, such as Century Tuna and 555 sardines, was up by 15 percent.
“All things considered, we are grateful for the company’s performance in the first half of 2023. We attribute this to the all-weather nature of our portfolio, which has the flexibility to deliver in an evolving market landscape. Inflationary pressures are beginning to abate, which we take positively, but consumers are still feeling the crunch,” Richard Kristoffer S. Manapat, the company’s CFO, said.
The branded business—composed of marine, meat, milk and other emerging segments—catered predominantly to the domestic market.