Charoen Pokphand Indonesia profit doubles
Despite higher production costs and selling prices, Charoen Pokphand Indonesia more than doubled its first semester net profit, compared to last year’s.
The company, subsidiary of Thailand-based Charoen Pokphand Foods, accumulated
Rp 209.6 billion (US$22.8 million) net profit in the first semester of 2008, 120
percent higher than the Rp 95 billion profit in the same period last year and
surpassing the entire year’s profit of Rp 185.5 billion in 2007.
“We
have a growing market and increasing prices. The whole industry is growing
despite the fuel increase,” the vice president of the company, Thomas Effendy,
said. The profit comes mainly from three types of product, all of which saw
rising sales in terms of volume and price. Animal feed contributed 78 percent of
sales, day-old chickens 13 percent and processed chicken meat 7.8 percent.
Related website:
CP Indonesia
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