Charoen Pokphand Foods Pcl, Thailand’s largest agribusiness company, reported a 17 percent increase in fourth-quarter profit on Wednesday, according to Reuters.
CP Foods, also one of the world’s largest shrimp producers, posted an October-December net profit of THB 2.4 billion (USD 78.1 million), up from THB 2.05 billion in the fourth quarter of 2010 but down from THB 5.09 billion in the third quarter of 2011.
The company’s 2011 net profit of THB 15.8 billion exceeded its 2010 net profit of THB 13.6 billion.
Looking ahead, CP Foods expects to increase its sales 50 percent to THB 300 billion (USD 9.8 billion) in 2012 due to investments in Vietnam and China. It forecasts its sales to reach THB 600 billion by 2016.
