LISTED food and beverage company Century Pacific Food Inc. (CNPF) said Wednesday that net income for the first nine months of 2024 grew 14 percent year on year to P5.3 billion, sustaining its double-digit growth led by strong sales.
LISTED food and beverage company Century Pacific Food Inc. said Wednesday that net income for the first nine months of 2024 grew 14 percent year on year to P5.3 billion, sustaining its double-digit growth led by strong sales.In a disclosure, CNPF said that consolidated sales for January-September rose 13 percent from a year ago to P56.9 billion, which it attributed to higher OEM exports and to the continued resilience of its branded segments.
'The bulk of the company's revenues were from the branded business — marine, meat and milk, and other emerging segments — which continues to sustain CNPF's growth.Its OEM exports consist of tuna and coconut exports, and saw an upswing this year, as commodity prices and foreign exchange fluctuations were favorable for the company compared to the same period in 2023.CNPFl said it had more room to support consumer demand as gross margins grew 240 basis points to 26.
Pacific Nets P5.3B In 3Rd Quarter
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