Century Tuna maker income up 24 pct as pandemic boosts canned food demand


Posted at Mar 24 2021 12:49 PM | Updated as of Mar 24 2021 12:54 PM

MANILA - The maker of a popular brand of canned tuna reported strong earnings last year as the pandemic pushed up demand for its products. 

Century Pacific Food Inc posted a net income of P3.9 billion in 2020, up 24 percent versus the year before, the company disclosed to the stock market on Wednesday.

Consolidated revenues last year grew by 19 percent, to P48.3 billion, driven primarily by sales of its marine, meat, and milk products.

“We saw robust demand for our branded products all throughout 2020 – beginning with a strong pre-COVID 19 performance, followed by pandemic-related demand spikes, then sustained growth to wrap up the year due largely to the essentials and staples nature of our portfolio,” said Christopher Po, Century Pacific's executive chairman. 

Po added that the company will release new products "over the next 12 to 18 months."

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