FOOD and beverage manufacturer Century Pacific Food, Inc. (CNPF) said it is “cautiously optimistic” about its growth for 2025, citing improving consumer spending despite ongoing global uncertainties.
“We are already seeing signs of a better consumer environment as we enter 2025. So far, our Q1 (first quarter) has gone as planned. While this provides grounds for optimism, we remain mindful of lingering cost pressures and ongoing shifts in the global trading environment,” CNPF Chief Finance Officer Richard Kristoffer S. Manapat said in a statement on Tuesday.
“We plan to approach 2025 with caution — remaining agile and responsive to change. We believe our diverse and resilient portfolio positions us well to navigate these headwinds while continuing to pursue our goal of double-digit growth, all while staying true to our mission of delivering affordable nutrition to the market,” he added.
For 2025, CNPF has earmarked approximately P3 billion in capital expenditure (capex) to expand its production capacity in the tuna, coconut, and pet food segments. The company is also targeting mid-teen growth in both profit and revenue for the year.
This statement comes as CNPF reported a 14% increase in net profit for 2024, reaching P6.3 billion, up from P5.6 billion in 2023, primarily driven by its export businesses.
Consolidated revenue increased by 12% to P75.5 billion, largely due to the strong performance of its diversified portfolio.
Original equipment manufacturing (OEM) exports saw a 36% revenue growth, driven by a low base, favorable input costs, and robust global demand.
The branded segment, which accounts for the majority of CNPF’s sales, grew 7% in revenue, led by higher volume across its brand portfolio. This segment includes marine, meat, milk, and other emerging verticals.
Operating cash flows reached P8.1 billion, enabling the company to fund capacity expansion, increase dividends, and meet debt repayments.
“Our results in 2024 underscore the resilience and balance of our synergistic portfolio. Diversification enabled us to navigate economic challenges more effectively, with exports benefiting from favorable commodity cycles and global demand, providing support amidst a subdued domestic environment,” Mr. Manapat said.
“We are particularly grateful for the sustained growth we’ve experienced, despite ongoing inflationary pressures on Filipino households. Throughout, we remained focused on delivering affordable nutrition — ensuring our products remain accessible. Additionally, we reinvested margin gains into brand-building, innovation, and promotional activities to support consumers and stimulate demand,” he added.
CNPF shares rose by 9.06%, or P2.90, to close at P34.90 per share on Tuesday. — Revin Mikhael D. Ochave
