Century Pacific Food, Inc (CNPF), one of the Philippines’ leading branded food companies, is set to reenter the MSCI Philippine Small Cap Index by the close of May 27, 2021.
“We are excited about the prospect of attracting more investors to our story,” said Century Pacific’s Chief Financial Officer Chad Manapat.
CNPF’s recent inclusion was a result of a semi-annual review conducted by MSCI, the leading provider of stock market indices and investment decision tools to clients worldwide.
It will be joining the likes of Puregold Price Club, Robinsons Retail Holdings, and Megaworld Corp on the highly tracked index.
Century Pacific recently reported a net profit of Php1.3 billion during the three months ending March 2021, 24 percent higher than last year’s Php1.04 billion. This was on the back of favorable margins and double-digit topline growth.
Despite a high base same period last year, first quarter revenues still ended 11 percent higher thanks to resilient local demand for the company’s branded products and strong growth in its tuna and coconut export business.
“Current uncertainties lend well to our growing portfolio of products – composed of a core that is essential and staple, alongside an increasing exposure to premiumizing and emerging categories,” Manapat added.
The Company’s strong growth during the first quarter comes on the back of already good performance last 2020 – with revenues and net income up 19 percent and 23 percent respectively.