Bangkok--15 May--CPF
Charoen Pokphand Foods Plc (CPF) yesterday reported a net profit of Bt2.05 billion for the first quarter of 2014, an increase of 100 percent from the same period of last year. The significant increased net profit has derived from a recovery of livestock business. However, aquatic business continues facing difficulty by the widespread of Early Mortality Syndrome (EMS) since late 2012.
Mr.Adirek Sripratak, President and Chief Executive Officer of CPF, said the company reported to the Stock Exchange of Thailand yesterday that its year-on-year sales revenue grew by 12 per cent to Bt98.122 billion in the first quarter this year. Sales from Thailand operations increased by 7 per cent while its business overseas surged by 16 per cent. Gross profit margin increased from 9 per cent of last year to 13.4 per cent this year. Sales from international operations accounted for 58 per cent of its total sales, domestic sales and export sales accounted for 36 percent and 6 percent, respectively.
Earning growth was driven by sales increased and improvement of gross profit margin from the low level last year. Livestock business has continued to recover as a result of this year's output has returned to normal. Aquatic business in Thailand is still affected by EMS disease. Moreover, colder weather at the beginning of this year has slowed down the shrimp farming. Shrimp business situation should be seen more clearly in the second half of this year. International operations are growing at the good rate, especially in Vietnam and India. Overall, this year CPF should be able to achieve its operating target as set.