Charoen Pokphand Foods Public Company Limited (CPF) has reported sales of 96,224 million baht and a 44% increase in net profit to 2,956 million baht during the first quarter of 2015, compared with the same period last year. Export and international sales accounted for 64% or total revenues.
Adirek Sripratak, president and ceo of Charoen Pokphand Foods, sees international business continuing to drive growth in 2015.The Bangkok, Thailand-headquartered agro-industrial and diversified food conglomerate is engaged in a wide variety of enterprises ranging from animal feed and livestock to shrimp and fish aquaculture, value-added red meat and poultry packing and frozen ready meals production to retail and foodservice operations.
Looking ahead, CPF faces with several challenges both at home and abroad during the remainder of 2015, according to Adirek Sripratak, the company’s president and chief executive officer. Thailand’s economy has negatively impacted on domestic consumption, he said, while the home market has experienced an oversupply of meat early this year. The depreciation of currencies in several countries is also impacting business overseas.
However, the growth potential of the ASEAN region in the long term bodes well for future prospects. As such, CPF’s shareholders have approved an increase of investment in Cambodia from 25% to 100%. The transaction will be completed within the second quarter this year. Thereafter, the company is poised to become a leader in the agribusiness industry throughout Indochina.
For the remainder of 2015, CPF will focus on foreign business expansion and acquisition of relevant businesses. The company expects sales growth of at least 10% over 2014 derived mainly from international business.
