CENTURY PACIFIC FOOD, INC. (CNPF) is maintaining its P8-billion to P9-billion capital expenditure (capex) program this year despite weaker consumer confidence, higher operating costs, and geopolitical uncertainties, according to a report by BusinessWorld. The listed food manufacturer is betting on sustained demand for affordable food and continued strength in its export business.
The capex will fund capacity expansion, automation, and product innovation across its canned tuna, meat, and coconut-based product lines. CNPF expects its export segment, particularly coconut water and other plant-based offerings, to remain a key growth driver amid global demand for healthier alternatives.
Despite macroeconomic headwinds, the company posted a 12% net income growth in the first half of the year, supported by efficient cost management and stronger international sales. Management remains cautious but optimistic, citing its diversified portfolio and focus on value-for-money products as buffers against softening domestic consumption.