Century Pacific Food profits hit P5-B in 2022, up 6 pct

MANILA - Century Pacific Food Inc said on Tuesday its net income reached P5 billion in 2022, which is 6 percent higher compared to the previous year.

Sales rose by 14 percent due to the continued economic recovery and resilient domestic demand, the Century Tuna-maker said in a disclosure to the stock exchange. 

In 2022, consolidated revenues hit P62.2 billion due to the strong performance of its branded business, which includes marine, meat, milk and other emerging units, it said.

"We saw local demand remain resilient in a year where more Filipinos gained employment because of the reopening. We recognize that consumers had to prioritize spending and are humbled to see that they continue to patronize our brands, leading to double-digit growth," CNPF Chief Finance Officer Chad Manapat said.

CNPF said it has spent P1.4 billion in capital expenditures last year.

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