Century Pacific Food, Inc. (PSE:CNPF), one of the Philippines’ leading food companies, has reported unaudited financial results for the first six months of 2026, sustaining growth despite challenging market conditions. Consolidated revenues reached P45.8 billion, a 15 percent rise year-on-year, with both core business divisions posting double-digit increases.
The company’s dual business engines—Branded operations and Original Equipment Manufacturer (OEM) Exports—drove overall sales performance. The domestic Branded segment, covering seafood, meat, milk, coconut products and other growing lines, grew 13 percent in the first half, accelerating to 14 percent in the second quarter even as consumer spending remained cautious. Demand held steady across all product lines, led by strong gains in milk, coconut and emerging categories, supported by affordable essential offerings.
OEM tuna and coconut exports grew 26 percent year-on-year, continuing recovery from a difficult start to 2025 on stronger global demand for tuna and healthy coconut goods. Growth slowed to 21 percent in the second quarter after the June earthquake in General Santos, where key production facilities are located.
Chad Manapat, CNPF chief financial officer, noted that operating conditions were difficult amid rising fuel costs that strained both consumers and business expenses. “We maintained strict cost controls and implemented modest price adjustments well below inflation, balancing cost pressures with keeping our products affordable for families,” he said.
Gross margin improved slightly to 25.9 percent, up 20 basis points year-on-year, matching a similar rise in operating expenses relative to sales. Operating income grew 15 percent, in line with revenue gains. Higher finance costs and tax rates due to increased short-term borrowing and expiring incentives brought reported net income after tax to P4.1 billion, a 6 percent year-on-year increase. Excluding one-time losses from the General Santos earthquake—covering damaged inventory and facilities, which are subject to insurance claims—core operating income rose 18 percent and core net income grew 10 percent. The company ended the period with a strong financial position, with gearing and net gearing ratios at 0.33 times and 0.28 times respectively.
CNPF recently received the gold award for Best Managed Consumer Staples Company in the Philippines from FinanceAsia in its 2026 Asia’s Best Companies survey, based on feedback from investors and analysts. Manapat said the recognition validated the company’s strategy for steady growth amid uncertainty.
Century Pacific targets to maintain double-digit growth for the year, with priorities including securing supply chains, managing costs, and enhancing value-for-money products. Capital investment for 2026 is set at around Php 8 billion—double the usual annual level—to expand production capacity, reflecting confidence in long-term prospects. “We remain focused on delivering affordable nutrition to our consumers while navigating market challenges with careful, deliberate steps,” Manapat added.
