Upbeat CPF projects sales to reach B100bn

The Fish Site
by The Fish Site
3 March 2005, at 12:00am

THAILAND - Charoen Pokphand Foods Plc (CPF), the country's largest agribusiness exporter, is decidedly upbeat about its performance this year on robust export growth prospects, with 2005 sales projected to exceed 100 billion baht. With existing problems that have affected the chicken and shrimp industries easing, the outlook for the year was improving, according to Adirek Sripratak, CPF's president and chief executive officer. CPF yesterday reported consolidated net profit of 1.237 billion baht, a significant decrease of 45% from a year earlier. Declines were attributed to falling margins following the bird flu outbreak, leading chicken sales to decline sharply from 2003. Anti-dumping duties imposed by the United States also took a toll on the company's shrimp export business, Mr Adirek said. CPF posted a 10% increase in consolidated sales in 2004 to 91.79 billion baht from the previous year. It attributed the improvement mainly to the contribution from C.P. Standart Gida Sanayi ve Ticaret A.S. in Turkey, which CPF acquired in January 2004, as part of its strategic plan to broaden investments in the poultry and aquaculture business in Eastern Europe and Africa. Source: Bangkok Post