May 27, 2008

CP Prima sales value rose 20 percent in 2007
   
  

Indonesian shrimp processor PT Central Proteinaprima Tbk's (CP Prima) sales value rose 19.9 percent to US$258.1 million on-year due to increased production.

The acquisition of PT Aruna Wijaya Sakti in 2007 has helped to bolster production level, according to Gunawan Taslim, financial director of PT CP Prima Tbk.

The acquisition also helped to boost fish feed production by 40.8 percent to 288,049 tonnes from 219,029 tonnes, increasing CP Prima's fish food production sales by about 7.1 percent.

Taslim said that production soared in the wake of rising frozen shrimp prices in the export market, while frozen shrimp production in 2007 surged 77.15 percent to 36,221 tonnes from 20,446 tonnes in 2006.

Shrimp fry net sales also jumped by 37.5 percent to US$23.7 million from US$17.3 million.

Overall product sales earned in a net profit of US$38.5 million, up 83.8 percent from US$20.9 million last year, Taslim said.

In addition, CP Prima had also boosted its poultry product sales value by 12.2 percent to US$89.6 million from US$79.8 million on-year.

Taslim said all the profits would be used for operational purposes as well as a shareholders-approved expansion.

CP Prima is the world's largest fully vertically integrated shrimp producer and processor, as well as Indonesia's market leader in shrimp fry, shrimp feed and fish feed production. Their products include frozen shrimp, shrimp feed, shrimp fry, probiotics.