FOOD and beverage firm Century Pacific Food Inc. (CNPF) is earmarking a higher amount of P4 billion to P5 billion for capital expenditures (capex) this year to fund investments and expand the capacity of its coconut business.
FOOD and beverage firm Century Pacific Food Inc. is earmarking a higher amount of P4 billion to P5 billion for capital expenditures this year to fund investments and expand the capacity of its coconut business.'We announced an expanded agreement with Vita Coco, which will bring incremental volumes over the next four to five years.
Executive Chairman Chris Po said.'As it comes online, we expect to create 1,500 quality manufacturing jobs in Mindanao,' he told stockholders on Monday. President and Chief Executive Officer Ted Po added that the capital spending was already in progress for this year and should increase capacity by 25 percent.'We are in the mid-stages of completing our expansion of our coconut processing capacity because we've been getting more and more demand from our principals in the US and in Southeast Asia,' he added.'I think we're also creating multipliers across the coconut supply chain.
will release a total of P1.7 billion for the dividends. earlier this year declared a regular cash dividend of P0.24 per share and a special cash dividend of P0.24 per share.The company's shares rose 95 centavos, or 2.95 percent, to P33.10 apiece on Monday amid a 0.20-percent decline for the benchmark Philippine Stock Exchange index.
Pacific Food Hikes Capex To P4-5B
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