CP Foods’ 1Q net profit soars

By

SeafoodSource staff

Published on
May 10, 2012

Charoen Pokphand Foods Pcl, Thailand’s largest agribusiness company, more than tripled its quarterly earnings to a record high on Thursday as a one-off gain and better overseas operations offset weak domestic conditions.

CP Foods, 47.9 percent owned by CP Group, one of Asia’s largest agribusiness conglomerates, posted a net profit of THB 12.11 billion (USD 389.77 million) for January to March, up from a revised THB 3.68 billion a year earlier.

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