The Phillipines largest canned tuna company -- Century Pacific -- reported flat earnings in 2017 despite an increase in sales due to the higher prices of raw material, the company said.

Earnings before interest, taxes, depreciation and amortization (Ebitda) for all its businesses was PHP 3.95 billion (€61.7 million/$76 million), unchanged year-on-year.

Meanwhile, total sales increased 22 percent, hitting a record high year with revenues of PHP 34.5 billion (€538.6 million/$663.7 million).

Net profit dipped 4 percent over the year due to the higher raw material prices.