Manila, April 1 -- Canned food company Century Pacific Food Inc. (CNPF) booked an 11-percent increase in net income in 2019 to PHP3.1 billion from PHP2.8 billion the previous year.
In a statement Wednesday, CNPF said its last year's consolidated revenues grew by 7 percent to PHP40.6 billion, driven primarily by double-digit growth in its branded business.
The branded business, comprised of marine, meat and milk business units, saw sales increase by 12 percent year-on-year, hitting PHP31.2 billion in topline and accounting for 77 percent of overall revenues.
In contrast, the commodity-linked tuna and coconut original equipment manufacturing (OEM) business, whose revenues accounted for the balance of 23 percent, saw sales fall by 6 percent...