Century Pacific’s Q1 profit up 31% as ECQ boosts demand for shelf-stable food

Heightened demand for shelf-stable food when the government locked down key regions starting mid-March boosted leading canned food producer Century Pacific Food Inc.'s first-quarter net profit by 31 percent year-on-year to P1.04 billion. | Philbizwatcher

On the other hand, revenues from the commodity-linked export-oriented toll manufacturing service businesses were largely flat year-on-year, with some capacity being re-allocated to domestic requirements.

“Much of the credit goes to our frontliners – in production, logistics, and sales – who have been working day-in and day-out to support our products’ availability in retail stores and the various relief operations mounted by local government units, NGOs , and private sector. One of our top priorities is the health, safety, and well-being of these frontliners, alongside that of our other employees,” he said.

The company also donated nearly one million food packs to hospitals and communities severely affected by COVID-19.

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