Record 2Q for CP Foods

By

SeafoodSource staff

Published on
August 10, 2010

Record high shrimp exports helped push Charoen Pokphand Foods’ second-quarter net profit to THB 4 billion (USD 125.3 million, EUR 96.3 million), up 25 percent from the same period last year.

CP Foods is one of Thailand’s largest agribusiness conglomerates and one of the world’s largest shrimp exporters.

In an interview with Reuters earlier this month, CP Foods President Adirek Sripratak said the company expects its net profit to grow more than 20 percent this year, as it transitions from farming to ready-to-eat products. The company projects its sales to reach a record THB 180 billion in 2010, up from THB 168 billion in 2009.

“This year should be quite a remarkable year for us in terms of profit and revenue,” said Adirek.

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