CPF reports 9mth net profit of 8,080m baht
Charoen Pokphand Foods or “CPF” reported net profit of 4,116 million baht for the third quarter of year 2009, increasing 2,728 million baht or 197% compared to the previous year.
Net profit for the first nine months of year 2009 is 8,080 million baht and an earnings per share is 1.20 baht per share. CPF is confident that year 2009 will be the outstanding year for the company and year 2010 will be another prosperous year for the company as well, as a result of business restructuring, efficient operations and overseas businesses expansion.
Net profit for the third quarter of year 2009 increases by 197% mainly as a result of improvement of operating results of livestock business and aquaculture business in overseas operations especially in Turkey. In addition, efficient cost control and continuous improvement of operating results of domestic operations and higher associated income all contributed to higher profit of the company.
Mr. Adirek Sripratak, President and Chief Executive Officer of CPF, said CPF has continuously restructured its business operations in order to sustain its earnings and business growth to ensure that the company can make dividend payment on a consistent basis. CPF focuses on expansion of businesses that provide stable profit for the company which are animal feed and foods products which includes ready meal under CP brand. New business structure will help stabilize and reduce volatility of CPF's earning said Mr. Adirek.
CPF has expanded its operations into 9 countries including Turkey, India, Malaysia, Philippines, Russia, Laos and Taiwan. In 2009, operations in those countries are much improved compared to the previous year and helps boost CPF's net profit. CPF plans to expand its operations into other countries that have high potential.
For domestic operations CPF will focus on foods business especially aquaculture products for both domestic market and export market. As a result of more efficient in shrimp farming, shrimp price now is more attractive for consumers. In addition, as consumers are becoming more health conscious, shrimp business is still has an opportunity to grow especially in export market.
For year 2010, CPF will focus on an improvement of its operating results especially for its overseas operations and export operations. CPF will continue implement policy on an improvement of efficiency of its production and operation and energy saving projects in order to increase the company competitive advantage. In addition CPF will focus on research and development for foods products, human resource development and social responsibility projects. CPF aims to be a good corporate citizen that has sustainable growth and be able to make consistent dividend payment to shareholders and to achieve its vision to be “Kitchen of the World”.
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