Century Pacific Food and RFM Corporation joined Forbes Asia’s Best Under a Billion List for 2021, which comprises 200 companies in Asia posting consistent growth with sales just under $1 billion.
Forbes noted that the two Filipino companies were selected from a list of 20,000 companies, as they were among the most resilient amid the coronavirus pandemic based on their financial performance.
Century Pacific of the Po family saw a 24% jump in profits in 2020 to P3.9 billion. Its brands include Century Tuna, Argentina Corned Beef, and Angel Evaporada.
“Amidst the uncertainties of 2020, our strong position allowed us to focus primarily on the future, improving our digital capabilities, increasing capacities across our value chain, and building up a robust pipeline of innovative and new products,” said Christopher Po, Century Pacific executive chairman, in a statement earlier in 2021.
Meanwhile, RFM posted a net income of P1.3 billion in 2020, similar to what it earned in 2019.
Some of RFM’s products are Selecta ice cream and Royal pasta.
While food producers were the only Filipino companies that made it to the prestigious Forbes list, healthcare and pharmaceutical-related companies were standouts in Asia.
India-based agri-biotech company Kilpest India saw a 12% surge in net profit, thanks to its real-time COVID-19 testing kits.
Thailand-based pharmaceutical company Mega Lifesciences saw revenues grow 11%, as demand for dietary supplements, drugs, and vitamins rose during the pandemic.
Japanese tech company Optim saw its net profit grow tenfold to $12 million in 2020, as work-from-home arrangements became a staple. – Rappler.com