C.P. Pokphand Co. Ltd. (CPP), one of China’s largest fish-feed manufacturers, on Monday released its 2010 results, including a profit of USD 132.8 million, up a whopping USD 124.2 million from 2009.
The Hong Kong-listed company’s turnover reached USD 1.95 billion, 94.3 percent of which was attributable to the its animal feed business, while its gross profit margin increased to 15.9 percent.
Looking ahead, a growing demand in China and throughout the region for quality food products, coupled with increasing awareness of food safety, will continue to fuel the demand for quality and safe animal feed products, which the company said it will benefit from.
CPP has signed an agreement to lease four feed plants from its parent with an aim of enhancing production capacity. The company said it will optimize production by assigning specific production lines to produce specialized high-value nutrition products. It will also increase investment in R&D while continuing to monitor raw-material price trends through centralized procurement to strengthen and improve overall efficiency.
