November 13, 2008
Thailand's CP Foods see 151 percent growth in profits
Chareon Pokphand Foods Plc, the largest food processor in Thailand, has posted a 151 percent boom in their profits for 2008's first 3 quarters.
Sales increased by 17 percent and there was a marked increase in export sales.
Chicken exports increased and there was a surge in meat product sales on the domestic market.
According to the CEO, although they have seen lower pig prices and poultry prices and the cost of raw materials and feed have gone down, but the fourth quarter will reflect a slowdown due to the economy slump.
The company exports poultry products to India, Vietnam, Malaysia and Russia.