Food-company Century Pacific Food Inc. (CNPF) reported that stronger third-quarter performance lifted its sales and profit growth for the first nine months of the year to eight percent and 10 percent, respectively.

In a disclosure to the Philippine Stock Exchange, the company stated that the recovery was driven by the acceleration in its branded business and a turnaround in the original equipment manufacturer (OEM) exports segment.

Consolidated revenue in the third quarter was ₱22.1 billion, a 15 percent increase from the same period last year. The branded segment, which generates the majority of sales, buoyed the group’s performance with sales climbing 18 percent year-over-year.

CNPF said the acceleration pushed the branded segment’s year-to-date sales growth into double-digit territory, improving 12 percent from a year earlier.

Meanwhile, the OEM exports segment recovered in the third quarter. Following a strong prior-year period and a soft first half, the segment grew four percent and 31 percent sequentially.

CNPF said the improvement eased the segment’s year-to-date decline to five percent compared to the same period in 2024.

As a result, CNPF’s consolidated sales for the first nine months of the year totaled ₱61.8 billion.

At end-September, gross margins stood at 25.5 percent, a decline of 110 basis points (bps) from a year earlier due to normalizing input costs. However, disciplined spending resulted in a 90 bps reduction in operating expenses as a percentage of sales, largely mitigating the pressure on gross margins.

Consequently, net income after tax reached ₱5.8 billion, an increase of 10 percent from the previous year The net profit margin clocked in at 9.4 percent, an uptick of 10 bps.

CNPF Chief Financial Officer Richard Manapat attributed the performance to the company’s “all-weather portfolio, with both domestic and international legs.”

“Stabilizing inflation, particularly lower rice prices, has somewhat improved purchasing power, which in turn increased demand," Manapat said, noting that domestic macroeconomic factors are supporting volume-led growth for staple food companies. "We’re also pleased to see OEM exports turn around,” he added.

Manapat reaffirmed the company’s outlook: “We continue to put in the work and aim to deliver double-digit topline and bottomline growth in 2025.”

He concluded that the company remains optimistic about the Philippines’ growth story, driven by a growing economy and favorable demographics.