December 28, 2007

Thailand's CP Foods projects 10-percent sales increase in 2008

Thailand's Charoen Pokphand Foods anticipates 10 percent growth in sales next year, slightly above analyst forecasts, on heightened domestic demand.

Chief executive Adirek Sripratak said that he is confident on the 10-percent rise given the improving domestic economy. 

CP Foods pledges that it will continue to boost domestic sales, exports and overseas investment.

Its 2007 sales target was at least THB137 billion (US$4.5 billion), up by 10 percent from THB125 billion (US$4 billion) last year due to higher product prices, Sripratak said.

CPF reported a consolidated net profit of THB1.13 billion (US$37 million) in the first nine months of 2007.

On Wednesday, CPF shares rose 0.4 percent to THB4.48 (US$0.14), while the overall stock market fell 0.25 percent.