February 26, 2009
CPF reports 145-percent growth in 2008 net profit
Charoen Pokphand Foods (CPF) announced that its 2008 sales revenue and net profit had increased 16 percent and 145 percent, respectively.
CPF's sales revenue in 2008 was THB156,238 million while net profit was THB3,128 million.
Sales revenue generated from domestic operation accounted for 63 percent, exports by 16 percent and overseas operations by 16 percent.
Meat business in the domestic market turned around from loss in 2007 to normal. However, the eggs business is currently still incurring operational losses.
Due to the world economic crisis and volatility in animal feed raw materials prices in 2008, CPF has slowed down its investment and business expansion while increasing efficiency to reduce its cost.
CPF's fourth quarter net profit also doubled on-year to THB304 million from THB148 million.
The world economic recession is expected to continue through 2009 and increasing unemployment rate in many countries would affect global consumption, which could hurt CPF's sales.
