May 15, 2012

CPF's net income soars 229%

In the first quarter, Charoen Pokphand Foods Pcl (CPF) posted a 229% surge in its net return, thanks to the purchase of a stake in Hong Kong listed CP Pokphand (CPP).

Profit for the first quarter was US$389.3 million and US$2.4 billion, a 61% increase from the same period last year. Sales growth for Thailand's operations stood at 11% from the same period last year while the overseas sales growth accounted for 205%.

The acquisition of CPP has changed the consolidated sales structure of CPF by reducing Thailand operations sales proportion to 51% from 74% in the past and increasing the overseas operations to 49% from 26%.