MANILA, Philippines — Profits of canned goods maker Century Pacific Foods Inc. surged in the first quarter, putting the company well on its way to beating its annual target, on the back of consumer demand for food with longer shelf life during the quarantine period. Related Stories Canned goods maker wins, convenience store loses from quarantineThe double-digit uptick in profits bolsters Century Pacific’s fighting chance to beat its “usual 10-15% annual growth goals” which it shared with Philstar.com last week. On the flip side, Century Pacific also increased its expenses by a massive 46% year-on-year due to additional overhead costs to assist its employees negatively affected by the coronavirus disease-2019 pandemic. “Amidst logistical and operational challenges, we are able to run our factories and supply chain round the clock,” Pobre said. To meet the overwhelming demand, Century Pacific said it increased its manpower in the past two months and opened a new plant in General Santos City to augment supply.

Source: Philippine Star May 07, 2020 11:15 UTC