CPF posts 8% revenue rise on back of overseas business growth
Charoen Pokphand Foods generated revenue of around Bt501.5 billion last year – up 8 per cent from the 2016 level – and a net profit of nearly Bt15.26 billion, thanks to growth in its overseas businesses, executive committee chairman Adirek Sripratak announced on Monday.
CPF intends to pay a dividend of 25 satang per share for last year’s operations, he said.
Sooksunt Jiumjaiswanglerg, chief executive officer – Agro Industrial Business and co-president of CPF, said most of the company’s business areas had grown well during 2017, with the results achieved coming in as planned.
However, the listed company had faced a challenge for its pig business in Asia, due to falling prices.
Prices of pork dropped below production cost, particularly in Vietnam, he said, although the situation was now gradually easing due to an upward price trend.
In addition, CPF strengthened its efficiencies both in management and operational terms, Sooksunt explained.
The company estimates that its financial results will increase by 5-8 per cent this year, the co-president said.
