CP Foods doubles profit in 1Q

By

SeafoodSource staff

Published on
May 15, 2014

Charoen Pokphand Foods Pcl (CPF) , Thailand's largest meat and animal feed producer, said on Thursday its net profit nearly doubled in the first quarter, driven by higher meat prices, lower raw material costs and a recovery in shrimp business.

CPF, the flagship unit of Charoen Pokphand Group owned by Thailand's richest man Dhanin Chearavanond, posted a net profit of THB 2.05 billion (USD 63.2 million, EUR 46.3 million) for the January-March quarter, up from THB 1.03 billion (USD 31.7 million, EUR 23.3 million) a year earlier.

Four analysts polled by Reuters had expected the company to post a net profit in the range of THB 1.8 billion (USD 55.5 million, EUR 40.6 million) to THB 1.9 billion (USD 58.9 million, EUR 42.9 million).

Click here to read the full story from Reuters >

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