Century Tuna maker?s profit grows by more than 20%
Leading canned food producer Century Pacific Food Inc. of the Po family chalked up a net income of P1.93 billion in 2015, up 21 percent year on year on strong demand across all its products.
Consolidated revenues grew 14 percent to P23.32 billion , driven by an 18 percent growth in the branded businesses? top line, which offset the sluggish exports of non-branded tuna products.
?Robust volume growth across our 3 branded segments ? marine, meat, and milk ? continues to reflect rising Filipino purchasing power, greater demand for our products, and increased recognition of our brands,? said Century Pacific finance officer Oscar Pobre.
Among the company?s brands include Century Tuna, Argentina Corned Beef, 555 Sardines, Swift, Angel, and Birch Tree, which have established market-??leading positions in the Philippines and are growing a presence abroad.
Domestic operations, particularly those outside of Metro Manila, performed strong as the firm?s distribution infrastructure improved and modern retailers pursued aggressive expansion plans.
Growth in the convenience store channel was particularly robust in light of new rollouts.
Given an election year, Century Pacific expects to sustain its growth momentum this year, aided by the country?s strong fundamentals.