CPF: first quarter sales grow 6%
In the first three months of 2007, sales have grown 6% for Thai company Charoen Pokphand Foods, in comparison to the same period in 2006.
Adirek Sripratak, president and CEO of Charoen Pokphand
Foods (CPF) revealed that the company had a net sale of 29,077 million baht
(€663 million), which 69% from domestic operations, 17% from exports and 14 %
from other operations in foreign countries.
Oversupply
Due to the oversupply and less
consumer spending, meat prices have been decreasing especially in pork,
broilers, and eggs. In addition, the price of major feed material; corn, keeps
rising with some effects from the currency exchange. Thus, CPF reports on the
first quarter of 2007 losses of 1,135 million baht (€25.9 million).
CPF
said the company would launch more choices of ready-to-eat meal menus in order
to meet with consumer’s demands and expand more distribution
channels.
International investments
For international
investment, CPF has received a good feedback especially in the aquaculture
business in India, Malaysia, and China. In addition, for business in Turkey, it
showed a jump-up growth. Therefore, the overall result of the company operation
will be much better in the second quarter of this year, said
Sripratak.
Related news item:
Thai pig farmers protest at CPF headquarters (10 May
2007)
Related website:
Charoen Pokphand Foods
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