Century Pacific Food reported Thursday that its net income in the first nine months of the year grew 10 percent year-on-year to P5.8 billion.
In a disclosure, it said consolidated sales reached P61.8 billion in the period This came as the group saw stronger third quarter results. This was driven by its branded business and the recovery of its OEM (original equipment manufacturer) exports segment.
‘Certain domestic macroeconomic factors are supporting our volume-led growth, especially for a food company like ours that plays in staples,’ chief financial officer Chad Manapat said. ‘Stabilizing inflation, particularly lower rice prices, has somewhat improved purchasing power, which in turn increased demand,’ Manapat said.
He added that he was bullish about the group ending the year with double-digit growth for both profit and revenues.