CNPF, a leading branded food and beverage company, said in a disclosure to the stock exchange nine-month sales rose 14 percent year-on-year to P47.3 billion. READ:
P3.87 billion it posted in the same period last year on higher sales amid the strong performance of its branded business and the recovery of its export business.
CNPF chief financial officer Richard Manapat said the reopening of the domestic economy and a receding pandemic cushioned the impact of the volatile operating conditions and uncertainty in the market. CNPF said the group’s branded business, composed of marine, meat, milk and other emerging businesses, continued to account for the bulk of sales. This segment posted 17-percent sales growth, demonstrating resilience in consumer demand.The group’s OEM tuna and coconut export business also registered 5-percent increase in nine-month sales on easing supply chain pressures and favorable movements in commodity prices.
Third-quarter net income was flat at P1.26 billion even as revenues rose 13 percent to P16.1 billion.
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