CPF anticipates higher-than-expected results from HK operations
Charoen Pokphand Foods (CPF) reported better-than-expected financial results of CP Pokphand (CPP), its Hong Kong-based subsidiary, in a filing to the Stock Exchange of Thailand.
CPP, listed on the Hong Kong Stock Exchange, just released its profit results as required by the SET, saying it projected preliminary net profit for 2019 at US$330 million (approximately Bt10 billion) to $350 million compared to $282 million the previous year, said CPF corporate secretary Kobboon Srichai. The firm attributed the increase to higher pork prices in Vietnam.
CPF directly and indirectly owns 52.24 per cent of CPP’s total issued shares, or 49.74 per cent of total issued common shares.
