CPF posts millions in net profit in Q2
Mr. Adirek Sripratak, president and chief executive officer of Charoen Pokphand Foods Plc. (CPF), vowed that as a result of Thailand operations restructuring and overseas expansion CPF will be able to continually deliver satisfactory performance and CPF’s net profit for 2011 will remain strong as expected.
For the second quarter 2011, CPF reported sales revenue 53,230 million baht, increased 11% from the same period of last year. Net profit surged to 4,869 million baht, increased 40% from the previous quarter and 22% from the same period last year. An increase of export sales and strong growth of associated income are major contribution to such impressive growth of net profit.
For the first six months of 2011, CPF’ sales revenue was 98,974 million baht or an increase of 8% from the previous year. Net profit was 8,348 million baht or an increase of 16% from the previous year. The operating result was outperforming the Company’s target and CPF expected its second half results to remain strong.
If classify by products, sales from food business has highest growth of 16% while farm business and feed business grew 9% and 4%, respectively. If classify by operations, sales from export business has highest growth of 11% while Thailand’s operations and overseas operation grew 9% and 6%, respectively.
Gross profit margin remained strong at the same level as the previous year. Majority of the 16% growth in net profit is a result of growth from sales revenue especially from food business and export business and an increase of associated income.
In addition, at the board meeting on 10 August 2011 CPF’s board of directors has approved the interim dividend payment for the first 6 months period of year 2011 at 0.60 baht per share. The record date for the right to receive the dividend was set to be on 24 August 2011 and dividend payment will be made on 9 September 2011.