Filipino food company Century Pacific Food, which produces products sold in Carrefour, Walmart, Tesco Hy-mall, Metro Cash & Carry, and Auchan, has announced a like-for-like rise in consolidated revenue of 14 per cent to PHP 23.32 (€440 million) from PHP 20.44 (€390 million), with its branded SKUs driving the performance, UndercurrentNews.com reports.
Century’s premium branded portfolio had undergone an 18-per-cent year-on-year enlargement. Its strong sales made up partially for the flat performance of its non-branded products.
Its CEO, Oscar Pobre, said, "Robust volume growth across our 3 branded segments – marine, meat, and milk – continues to reflect rising Filipino purchasing power, greater demand for our products, and increased recognition of our brands.
"So far, 2016 has been showing similar trends with good macroeconomic tailwinds, and possibly election related spending, benefitting us during the first three months of the year."
Argentina Corned Beef, Century Tuna, 555 Sardines, Birch Tree, Angel and Swift are among the company’s central brands.
2015’s gross profit margin was 26.6 per cent – a figure that was bolstered somewhat by in drops in raw-material prices.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.
