August 25, 2017

CP Foods nets US$240.5M in 1st half

 

Thailand's Charoen Pokphand Foods has reported a net profit of 8.02 billion baht (US$240.474 million) in the first half, up 3% from last year.

Total sales during the same period climbed up 10% to Bt245.587 billion (US$7.364 billion). The company said it planned to pay dividend at 50 satang ($0.015) per share by Sept. 8.

Of the total first-half sales, overseas operations accounted for 64%, domestic sale 30% and the remainder came from exports.

The company's overseas investments-mainly in China, Russia and the Philippines-increased 16%. The company said its business growth has also been generated by its mergers and acquisitions in the US since late last year. Sales in Thailand grew 2%, helped by increasing exports.

One of the challenges that CPF faced in the first half was the oversupply of pigs in Asia, particularly in Vietnam, Cambodia and Thailand. 

Last Aug. 11, 2017, CPF's board of committee approved to pay a dividend of 50 satang per share in accordance with the company's result operation in the first six months ended June 30.

CP Foods is a leading agro-business conglomerate operating in 16 countries. It is also a major shrimp and fish farmer and an aquaculture feed supplier in Southeast Asia and China.