CPF's profit jumps 33 per cent

Sales increased 10 per cent to Bt464.46 billion in 2016. 
Overseas operations and its export business accounted for 68 per cent of total sales, with the remaining 32 per cent coming from Thailand. 
The profit surge was attributed largely to the operation results of the terrestrial animal business in Thailand, which returned to normal, as well as the gradual recovery of the shrimp industry in Thailand after being affected by the Early Mortality Syndrome. 
The profit increase was partially a result of operation results in CPF’s new subsidiaries in Russia and Cambodia together with effective cost management mechanisms. 
CPF’s board has declared an annual dividend of Bt0.95, of which Bt0.50 was already paid on September 8, 2016. 
Adirek Sripratak, president and CEO, said rapidly-evolving situations, the economic outlook and social behaviour were CPF’s major challenges. 
However, with the strategy to expand in strategic areas with growth potential, CPF aims to increase its sales by 10 per cent again this year, mostly from its overseas business.
Since sales were high in the past year and the company operates a full line of businesses from upstream to downstream with an extensive network covering 16 countries worldwide, where each area has an opportunity to expand in each business field, the board resolved to divide CPF’s business into two major lines – agricultural and food. 
Sooksant Jiamjaiswanglerk has been appointed president and co-CEO overseeing the agricultural business while Sukhawat Dansermsuk has been appointed president and co-CEO of the food business. 
The two businesses strive to sustainably expand CPF’s operation and will be managed in a concerted manner for maximum efficiency, he added.