SUBSCRIBE

Breaking News on Global Meat Trading and Processing

Headlines > Financial

Read more breaking news

 

 

Animal business drives up profit for Thai food firm

Post a commentBy Rod Addy , 27-Feb-2017

The Thai food firm said its seafood operation improved in 2016
The Thai food firm said its seafood operation improved in 2016

Net profits soared by 33% at Charoen Pokphand Foods (CPF) in the past full financial year, powered mainly by recovery in Thailand’s shrimp industry and its Thailand terrestrial animal business operations.

These factors drove net profits up by one-third to 14.7 billion Thai Baht/THB (US$421.8m) in 2016 on sales up 10% to THB464.5bn (US$13.3bn) across 16 countries, CPF claimed. While sales revenues from CPF’s overseas operations and export business accounted for 68% of its total sales revenues, the remaining 32% came from CPF operations in Thailand.

Early Mortality Syndrome hit Thailand’s shrimp trade last year, but instances of the disease have since declined, improving CPF’s seafood performance.

Russia, Cambodia

The profit increase was also partly fuelled by better operation results in CPF’s new subsidiaries in Russia and Cambodia, together with effective cost management, it said.

With a strategy to expand business in strategic areas with growth potential, CPF aims to increase annual sales by a further 10% from 2016, with most growth coming from its overseas business.

At the same time as its annual results, CPF announced the appointment of Sooksant Jiamjaiswanglerk as president and co-chief executive overseeing its agricultural business. In addition, Sukhawat Dansermsuk was appointed president and co-CEO of its food business.

Maximum efficiency

According to CPF’s overall president and CEO Adirek Sripratak, the two businesses would be managed in a concerted manner for maximum efficiency.

CPF has its headquarters in Bangkok, Thailand and runs four operations: feed; farm, which produces fresh, uncooked meat; food, which produces cooked product and ready-to-eat meals; and retail and food outlets.

Post a comment

Comment title *
Your comment *
Your name *
Your email *

We will not publish your email on the site

I agree to Terms and Conditions

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Related products

Related suppliers