CENTURY Pacific Food, Inc. (CNPF), maker of Century Tuna and Argentina corned beef, is expanding into coconut products with the introduction of its own brand Coco Mama Fresh Gata.
“Coco Mama Fresh Gata… is meant to provide home cooks with an easy and convenient way to use fresh coconut cream without having to buy the actual coconut, and then grating and pressing it themselves,” the listed company said in a statement Thursday.
CNPF is an integrated manufacturer of high-value coconut products such as organic virgin coconut oil, desiccated coconut and coco water, for OEM (original equipment manufacturer) exports. Its milk and coconut businesses account for nearly a third of the company’s revenues.
Coco Mama is CNPF’s first culinary coconut product under its own brand, as the company expands into new product categories.
“Geared towards the domestic market, (Coco Mama) leverages on CNPF’s existing coconut manufacturing facilities and extensive distribution network in the Philippines,” the company said.
CNPF has a coconut products manufacturing facility in General Santos City.
Aside from coconut products, CNPF is also involved in the manufacturing and distribution of processed marine and meat products for export and its own brands such as Century Tuna, Argentina, Swift, and 555. Its milk brands include Angel and Birch Tree.
This year, it also launched Birch Tree Fortified Choco, another variant of its powdered milk product, and Argentina Corned Chicken. It also has the Philippine license for pork and beans brands Hunt’s and the Kamayan trademark for North America. Kamayan is a top brand for shrimp paste or bagoong.
In the third quarter, CNPF reported a 7% increase in net income to P797.83 million, driven by double-digit growth in its tuna brands. Revenues jumped 10% to P10.10 billion during the said period.
For the first nine months, the company also booked a 7% rise in net income to P2.36 billion, while consolidated revenues increased 17% to P29.47 billion — 75% of which came from its branded segments. Its revenues from OEM business inched 3% higher to P7.5 billion.
Shares in Century Pacific went down 1.82% or 0.28 points to close at P15.10 each in the stock exchange on Thursday. — Vincent Mariel P. Galang
