Century Pacific Food Inc. (CNPF) grew its first-half net income by 6 percent to P4.1 billion, as higher finance costs, a steeper tax bill, and one-off losses from the June General Santos earthquake curbed the earnings impact of double-digit sales growth.

Without the earthquake-related provisions, which remain subject to insurance claims, the company said on Thursday that its core net income increased 10 percent year on year.

Revenue climbed 15 percent to P45.8 billion in the January-to-June period, fueled by sustained demand for its branded food products and a continuing rebound in tuna and coconut exports. Both businesses posted double-digit growth, allowing the company to navigate an increasingly volatile operating environment.

The branded segment, which generates the bulk of CNPF's sales, expanded 13 percent in the first half as its milk, coconut and emerging businesses outpaced the rest of the portfolio despite subdued consumer spending. 

Meanwhile, OEM exports surged 26 percent, buoyed by improving tuna markets and robust global demand for coconut products. However, growth slowed in the second quarter after the June earthquake disrupted operations at key manufacturing facilities in General Santos.

"Our operating conditions in the first half were far from smooth. Fuel prices soared, squeezing our consumers while adding pressure to our operating costs. 

Against this backdrop, cost discipline became all the more important. We proactively tightened spending while also rolling out measured pricing action well below inflation, aiming to strike a balance between cushioning rising costs and keeping our goods within reach for our consumers," CNPF chief financial officer Chad Manapat said.

Despite the headwinds, CNPFsaid it remains on track to sustain double-digit growth while continuing to invest for expansion.

The company has earmarked about P8 billion in capital expenditures this year, roughly double its typical annual spending, to expand capacity across its businesses.