August 12, 2011

CPF posts firm Q2 profits

CPF reported a net profit of THB4,869 million (US$162.78 million) for Q2 2011, soaring 40% from the last quarter.

Interim dividend payment will be at THB0.60 (US$0.02) per share and CPF expected its second half results to remain strong.

Adirek Sripratak, President and Chief Executive Officer of Charoen Pokphand Foods Plc. (CPF), vowed that as a result of Thailand operations restructuring and overseas expansion CPF will be able to continually deliver satisfactory performance and CPF's net profit for 2011 will remain strong as expected. 

For the second quarter 2011, CPF reported sales revenue THB53,230 million (US$1,776.7 million), increased 11% from the same period of last year. Net profit surged to THB4,869 million, increased 40% from the previous quarter and 22% from the same period last year. An increase of export sales and strong growth of associated income are major contribution to such impressive growth of net profit.

If classify by products, sales from food business has highest growth of 16% while farm business and feed business grew 9% and 4%, respectively. If classify by operations, sales from export business has highest growth of 11% while Thailand's operations and overseas operation grew 9% and 6%, respectively.

CPF is expected to export 82,000 tonnes of chicken meat this year, or 18.3% of the combined 445,000 tonnes to be shipped overall, outperforming the company's targets.