Century Pacific joins global stock index

MANILA, Philippines – Century Pacific Food Inc., a publicly- listed canned food company, will make its debut on the MSCI Philippine Small Cap Index on May 31, company officials said over the weekend.

The Filipino-owned company will join other listed companies such as Ayala-owned Manila Water, the Lopez Group’s First Gen Corp. and DoubleDragon, the joint venture of Mang Inasal founder Injap Sia and Jollibee chairman Tony Tan Caktiong, on the closely tracked index.

With the MSCI listing, the company hopes to attract move investors, said Century Pacific CFO Oscar Pobre.

“We are excited about the prospect of attracting more investors to our story,” he said.

The company’s inclusion in the MSCI stock market index came after a semi-annual review conducted by MSCI, the leading provider of stock market indices and investment decision tools to clients worldwide.

The global index provides portfolio risk and performance analytics and corporate governance services.

The MSCI Philippine Small Cap index measures the equity performance of small cap stocks in developed and emerging markets.

Aside from CNPF, other additions to the Philippine small cap index include hotel and casino operator Bloomberry by ports tycoon Enrique Razon and technology company Xurpas.

Pobre said the domestic economy continues to provide growth opportunities for a company like CNPF.

He said the company would continue to grow with its shareholders, as it executes its business plans and strategies.

The company recently reported a net income of P636 million in the first quarter of the year, 45 percent higher than a year ago.

This is on the back of strong demand for the company’s branded products, subdued prices of key raw materials and the financial consolidation of newly acquired Century Pacific Agricultural Ventures, Inc. (CPAVI).

It generated revenues of P6.40 billion during the quarter compared to P5.24 billion a year ago as sales from marine, meat and milk — which account for 78 percent of the company’s top line — grew 15 percent year on year.