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CPF sales revenue shows 8% annualized growth

TAGS: Business
Charoen Pokphand Foods revenue expected to grow 8-10% in 2019.

Thailand-based Charoen Pokphand Foods PLC (CPF), one of the world’s leading agro-industrial and food conglomerates with investment in 17 countries, posted Bt541,937 million in sales revenue in 2018 and Bt15,531 million in net profits.

Sooksunt Jiumjaiswanglerg, chief executive officer for agro-industrial business and co-president of CPF, said CPF’s sales revenue based on local currencies grew 12% year over year. The annualized sales revenue should continue growing by 8-10% in 2019, thanks to continued growth in overseas operations following the expansion in aquatic and non-aquatic businesses.

Sukhawat Dansermsuk, chief executive officer for food business and co-president of CPF, noted that, driven by deep changes in consumer behaviors, the company emphasizes research and development to introduce food products that satisfy the palates of consumers in various countries, the recipes that contain quality raw materials throughout the production chain and environmentally friendly packaging. As distribution channels will complement these strategies, the company has teamed up with Taiwan-based HiLai Group to open Harbour, a seafood buffet restaurant at Iconsiam.

Sujint Thammasart, chief operating officer for aqua business, asserted that the outbreak of early mortality syndrome (EMS) and localized diseases like EHS in several Asian countries has motivated the company to expand its aquatic production base. At present, the aquatic business is located in eight countries: Thailand, China, Vietnam, India, Malaysia, the Philippines, Brazil and the U.S. In 2018, the aquatic business generated Bt74,513 million in sales revenue. The business’ sales revenue is expected to rise by more than 15% in 2019, while net profits should grow accordingly, particularly for the operations in Thailand.

CPF’s board of directors resolved to hold the company’s annual shareholder meeting April 24, 2019. Shareholders will be asked to consider the proposed dividend payment for the 2018 operations at Bt0.65 per share. Excluding the interim dividend payment of Bt0.35 per share paid Sept. 7, 2018, shareholders will receive the remaining dividend of Bt0.30 per share.

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