Overseas operations boost CPF’s sales

By Aidan Fortune contact

- Last updated on GMT

Overseas operations boost CPF’s sales

Related tags: Chief executive officer, Charoen pokphand, Charoen pokphand foods, Food, Cpf, Pork, Poultry

Thai meat processor Charoen Pokphand Foods PCL (CPF) has reported an 8% year-on-year boost in net profits in 2017, driven by growing overseas business interests.

Its total sales for the year reached Bt501.5 billion (bn) with Bt15.26bn in net profit.

Last year, the company’s overseas investment accounted for 64% of its total sales and it expanded businesses into countries with high growth opportunity, with CPF now present in 16 nations. The overseas investment is planned to continue with further growth earmarked for China, Vietnam, Russia, India and the USA.

Sooksunt Jiumjaiswanglerg, chief executive officer – agro industrial business and co-president of CPF, said most of the company’s business grew well, with successful results as planned.

However, he did cite challenges in the pig sector in Asia due to falling prices. Jiumjaiswanglerg said meat prices had dropped lower than production costs, particularly in Vietnam.

He added that the company had "strengthened its efficiencies both in management and operation"​ and estimated that the company was expected to grow by 5-8% this year.

Sukhawat Dansermsuk, chief executive officer - food business and co-president, said that consumers were more concerned with food safety throughout the whole process. "To serve these demands, the company has invested both in its research and development centre and traceable food processing system to reassure consumers about the quality of its products. In 2017, the food sector enjoyed steady growth, especially in Thailand and China. Growth is expected to continue this year due to a contribution from overseas operations."

Related topics: Meat

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