CNPF sees sustained double-digit growth this year

MANILA, Philippines — Century Pacific Food Inc. (CNPF), the Po family’s listed food and beverage company, expects to maintain its double-digit growth trajectory this year following a strong performance in 2024.

CNPF chief financial officer Chad Manapat said the first quarter “has gone as planned” for the company, which is already seeing signs of a better consumer environment entering 2025.

“While that gives us reason to be optimistic, we remain mindful of lingering uncertainties on the cost side and ongoing shifts in the global trading environment. We plan to tread 2025 with caution – remaining agile and responsive to change,” Manapat said.

In 2024, CNPF delivered a 14-percent year-on-year profit growth to P6.3 billion on the back of the robust performance of the group’s diverse portfolio.

Revenues climbed by 12 percent year-on-year to P75.5 billion, driven by the outperformance of the original equipment manufacturing (OEM) exports business and sustained resilience of the branded segment.

Favorable input costs and robust global demand for healthy and nutritious products propelled revenues of CNPF’s OEM exports business – comprised of both tuna and coconut export businesses – by 36 percent year-on-year.

The company’s branded segment, on the other hand, saw revenues rise by seven percent year-on-year amid soft consumer environment.

The segment, which accounts for the majority of the company’s sales, is composed of marine, meat, milk and other emerging verticals.

CNPF said the segment’s performance last year was supported by an expansive portfolio of brands across multiple price tiers and a strong focus on brand-building campaigns and promotional efforts.

According to Manapat, CNPF’s 2024 results highlight the resilience and balance of the company’s synergistic portfolio.

“Diversification allowed us to navigate economic headwinds more effectively, with exports benefiting from a favorable commodity cycle and global demand – providing uplift amid a subdued domestic environment,” Manapat said.

“We’re especially grateful for the sustained growth we’ve seen, despite continued pressure on Filipino households from inflation. Throughout, we stayed focused on delivering affordable nutrition – ensuring our products remain within reach. We also reinvested margin gains into brand-building, innovation and promotions to support the consumer and stimulate demand,” he said.