CNPF sustains 9-month growth momentum

Century Pacific Food Inc. (CNPP), the Po family’s listed food and beverage company, is looking to finish the year strong, as profit in the first nine months expanded by double digits.

-  - Richmond Mercurio

CNPF saw its net income rise by 10 percent to P5.8 billion in the nine months ending September, with sales improving by eight percent year-on-year to P61.8 billion.

In the third quarter alone, revenues climbed by 15 percent to P22.1 billion, driven by the acceleration in its branded business and the recovery of its original equipment manufacturing (OEM) exports segment.

The branded segment, which accounted for the majority of sales, boosted the group’s performance, with sales rising by 18 percent during the third quarter.

OEM exports, meanwhile, posted a recovery in the third quarter, coming off a strong prior-year performance and a soft first half. The segment grew by four percent year-on-year and 31 percent sequentially.