Philippine food and beverage makers Century Pacific Food Inc. (CNPF) and RFM Corp. landed on Forbes Asia magazine’s “2021 Best Under A Billion” list of 200 top-performing publicly listed small and mid-sized companies in the Asia-Pacific region.
The roster highlights companies with less than $1 billion in revenues and consistent in terms of top- and bottom-line growths.
“Despite the global spread of COVID-19, this year’s annual list highlights the resilience of the Best Under A Billion companies. Of note, healthcare and pharmaceutical-related companies were standouts while tech and logistics firms linked to the global e-commerce boom also benefited,” Forbes Asia said in a press statement.
“Their sound financial figures reflect how well these companies coped in the midst of a global pandemic.”
CNPF, which is led by the Po family, grew its 2020 net profit by 23 percent to P3.879 billion as consumers stocked up on shelf-stable seafood, meat and milk products during the prolonged coronavirus pandemic.
One of the Philippines’ largest branded food and beverage companies, CNPF produces processed marine, meat, milk and coconut products. With an established track record in brand-building spanning more than 40 years, it has developed a roster of household names, including Century Tuna, Argentina, 555, Angel and Birch Tree. The company also operates as one of the Philippines’ leading providers of private label tuna and coconut products for export overseas.
RFM, on the other hand, chalked up P1.29 billion in net profit last year, up by 4.55 percent from the previous year.
RFM manufactures and sells ice cream, milk and juices, pasta products and flour- and rice-based mixes under the brands White King All-Purpose Flour, Fiesta Spaghetti, Selecta Moo, Sunkist Orange Pulp, Vitwater, Selecta Magnum, Selecta Cornetto, Selecta Paddle Pop and Royal Spaghetti.