Investing.com - Macquarie analyzed the impact of the Mindanao earthquake on Philippine consumer and retail companies following the 7.8 magnitude quake that struck off the coast of Mindanao on Sunday at 7:37am, severely affecting Sarangani province and General Santos City in Region XII and the Davao region. The earthquake displaced thousands, with 479 injured and 37 casualties reported.
Century Pacific Food (PSE:CNPF) halted operations at its tuna facility and coconut facility in General Santos City for ongoing structural assessment, with a goal to resume operations in one to two weeks. The company has one to two months' worth of supply across its various depots in the Philippines to cover near-term demand, while its other Mindanao facilities remain operational.
Universal Robina Corporation (PSE:URC) is assessing its flour milling plant in Davao, while its Branded Consumer Foods Group plant in Cagayan de Oro resumed operations. Monde Nissin Corporation (PSE:MONDE) and San Miguel Food and Beverage (PSE:FB) sustained little-to-no damage to facilities in Mindanao.
Puregold Price Club (PSE:PGOLD) and Wilcon Depot (PSE:WLCON) temporarily closed a few retail stores pending local government clearances, with minimal expected sales impact. Jollibee Foods Corporation (PSE:JFC) temporarily shut down some stores, with some sustaining damages, though overall sales contribution is relatively small.
Macquarie expects increased near-term demand for shelf-stable food and beverage items like canned goods, instant noodles and ready-to-drink beverages due to relief efforts and weaker economic activity in affected areas. The firm sees eventual demand for building materials, flooring, paints and sanitarywares from repair and renovation works.