CPF sees 10% sales growth over next few years

 

 

Charoen Pokphand Foods (CPF) forecasts its sales to increase by about 10% this year and 5-10% over the next five years, said Adirek Sripratak, the company's president and chief executive officer.

 

Sripratak cited key catalysts as higher exports and growing sales from processed and ready-to-eat food and its aquaculture business that should account for 7% of total sales this year.

 

"Our strategy to focus more on ready-to-eat food continues to pay off lucratively," he said, adding that key catalysts have been the favourable domestic meat prices, especially for pigs, while raw materials have been stocked at relatively low prices.

 

Additionally, 2010 net profit forecast was revised up by 18% to THB11.69 billion (US$360 million) and 2011-12 targets were lifted by a similar percentage.

 

Earlier, the company announced an investment of THB2 billion (US$61 million) to build an integrated ready-meal production plant to produce a wide range of product lines including egg noodles and sausages.