Charoen Pokphand Foods this week reported a first-quarter net profit of THB 770.5 million (USD 22.4 million, EUR 16.5 million), up from THB 451 million (USD 13.1 million, EUR 9.7 million) during the same period last year.
CP Foods, one of Thailand’s largest shrimp exporters, attributed its encouraging first-quarter results to improving gross margins and lower raw material costs.
Its fourth-quarter net profit totaled THB 304 million (USD 8.8 million, EUR 6.5 million).
Analysts remain bullish on the company's long-term outlook based on its product diversity, reported Reuters.
The arrival of H1N1 flu, or swine flu, in Thailand was expected to affect pork consumption and CP’s pork products, but the decline has been cushioned by demand for other products, such as seafood.
Back to home >
