Listed Century Pacific Food Inc. (CNPF) on Wednesday reported a 24-percent higher net income of P3.9 billion as its branded products saw robust demand last year. CNPF said the 25-percent increase in sales of its branded business enabled the company to end the year with consolidated revenues of P48.3 billion, up 19 percent year-on-year. The branded segment — composed of its marine, meat and milk business units — represented 81 percent of the company’s overall sales. “The growth target is due largely to resilient demand for the company’s core branded products, recovery in its OEM export business and increased contribution from new products and emerging categories,” CNPF explained. It will provide capabilities in a completely different food segment which is growing and will have synergies with the shelf-stable part of our portfolio,” Po said.

Source: Manila Times March 24, 2021 16:44 UTC