Charoen Pokphand Foods’ profit surges
Thailand’s Charoen Pokphand Foods’ net profit for year 2009 surged to 10,190 mln baht (€225.7 mln) – a 226% increase year-on-year. The company is expecting continuous growth in 2010.
This tremendous increase was mainly a result of business restructuring and efficiency cost management.
In 2010, CPF will continue focus on overseas business expansion which, recently CPF announced its plan to invest in Kenya and Tanzania. For its Thai operations CPF will expand its distribution businesses such as 5 Stars Chicken and CP Fresh Mart.
President and CEO Adirek Sripratak said that CPF will continue focusing on its strategy to create sustainable growth and to make consistent dividend payments to shareholders.
CPF will focus on an expansion of food business under CP brand, market diversification, expansion of distribution channels both in Thailand and overseas and overseas expansion in high potential countries.
Sripratak said in order to cope with economic uncertainty, fierce competition both in Thailand and global markets, climate change, and changes in consumer behaviour, CPF has continuously emphasised on cost management to make its production cost to be lower than its competitors.
Growth in 2010
For 2010, CPF strives for continuous growth especially for its overseas operations and shrimp business. The latter will profit from a smaller supply from competitors in world market.
CPF also has confidence in its investments plans for Kenya and Tanzania.
For year 2009, CPF’s sales amounted to 165,063 mln baht (€3.655 bln), an increase of 6% compared to 2008.
