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Charoen Popkhand Foods thanks overseas business for 2017 growth

28 February 2018

Charoen Pokphand Foods PCL (CPF) reports that its result operation achieved Bt501.507 billion, up by 8 percent in 2017 with a net profit of Bt15.259 billion thanks to growing overseas businesses, and plans to pay a dividend of 25 satang per share.

Mr Adirek Sripratak, Chairman of the Executive Committee of CPF, said that the company operation focuses on agro-industrial business, particularly meat and processed foods in the form of integration. It also expands businesses into countries with potentially high growth opportunity, covering 16 countries now. Last year, the company’s overseas investment accounted for 64 percent of its total sale. The overseas investment is planned to generate business growth in the future including in China, Vietnam, Russia, India and the United States.

Mr Sooksunt Jiumjaiswanglerg, Chief Executive Officer – Agro Industrial Business and Co-President of CPF, said most of the company’s business grew well with successful result operation as planned. However, the current challenge in pig business in Asia, is the falling price problem. Meat price has dropped lower than the production cost, particularly in Vietnam. At present, the situation gradually eases and tends to increase. In addition, the company has strengthened its efficiencies both in management and operation. It is estimated that the company’s result operation will be increased by 5-8% this year.

Mr Sukhawat Dansermsuk, Chief Executive Officer (CEO) - Food Business and Co-President, added that consumers, nowadays, are highly concerned not only good taste but also food safety throughout the whole process. To serve the demands, the company has invested both in a Research and Development centre and a traceable food processing system to ensure consumers of its quality of products. In 2017, the food sector is enjoying steady growth, especially in Thailand and China. The growth is expected to continue in this year due to a contribution from overseas operation.

In the recent Annual General Shareholders’ Meeting, CPF’s Board of Directors approved to pay a dividend of 25 satang per share in addition of 50 satang interim dividend that were given to shareholders on September 8, 2017. It also announced that the next annual general meeting will be held on April 24, 2018 at Panyapiwat institute’s Convention Hall.

 

As reported by Charoen Popkhand Foods



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