CENTURY Pacific Food Inc. (CNPF) said that its consolidated revenues for the first nine months of the year increased to P47.0 billion, up by 14 percent from the same period in 2021, while net income for the same period was at P4.2 billion, up by 6 percent.

Growth was primarily driven by the company's branded business unit, which comprised the majority of its sales, as the company also posted a 13-percent topline growth in the third quarter of 2022 on the back of resilient domestic demand and the continued recovery of its private label exports business.

The branded segment outperformed expectations, recording a growth of 17 percent year on year for the nine-month period, demonstrating resilience in consumer demand led by the tuna and coconut products line, which recorded an increase in sales of 5 percent. Margins also improved due to lower freight rates, easing supply chain pressure and downward movement in input costs.

'Volatile operating conditions and uncertainty set the scene in 2022, but these were cushioned by the Philippine economic reopening and a receding pandemic. As a food company that endeavors to deliver affordable nutrition, we have a wide array of brands that cuts across multiple price tiers,' CNPF Chief Financial Officer Richard Manapat said. 'In this way, we're able to provide food options that cater to varying consumer needs.'