By SIRIVISH TOOMGUM
CPF has also set a growth target for sales of 10-15 per cent this year, based on the continued execution of its business strategy and the turnaround in the shrimp-farming industry.
In the first quarter, the group’s sales rose by 10 per cent year on year to Bt105.51 billion and net profit by 27 per cent to Bt3.76 billion.
Its sales increased 6 per cent in Thailand and 12 per cent in its foreign operations.
Its shrimp business in Thailand has recovered substantially from the early mortality syndrome of the past few years, while it saw improvement in its operations in Vietnam.
CP Pokphand Co, a CPF subsidiary and Hong Kong-based listed company, has reported a remarkable advance in its financial performance. The gross margin of its livestock operation in Thailand has recovered from the meat glut last year.
Adirek Sripratak, president and chief executive officer of CPF, said yesterday that the group would continue to pursue its strategy of focusing on sustaining offshore growth and continuing to add value to its products. It will invest in the vibrant agro-industry and food markets. Its growth will be organic or via M&As.
The company still has ample room to boost its presence in international markets, he said. It is conducting due diligence on possible M&A deals.
In five years, the split in its revenue from markets abroad and at home could change to 70:30 from the present 60:40, Adirek said.