THAILAND, Bangkok. Charoen Pokphand Foods PCL (CPF) posted total sales of Bt 136.353 bn. in 2nd quarter this year, up by 8% compared with the same period last year thanks to overseas sales rose by 16%. However, the CPF’s sales dropped 5% domestically.
At present, overseas operations in 16 countries accounted for 68% of the company’s total sales while the domestic sale for 27% and export from Thailand for 5%. Top three markets which generated main revenue included Thailand (32%), China (26%) and Vietnam (16%) These markets account for 74% of CPF’s total sales.
In Q2, CPF’s year-on-year net profit jumped by 45% to Bt 5.894 bn., and sky rocketed by 93% when compared with Q1 of this year. The improved net profit was largely resulted from Vietnam’s performance bounced back to normal state.
It is forecast that increasing price will further carry to next year. Pork and chicken prices have been rising continuously from Q1. The better prices will also be a factor to spur better result operation for the remaining year.
The company pointed that currency crisis in Turkey, which accounted for 3% of CPF total sales, is unlikely to affect its performance as the operation in Turkey is now focusing on domestic consumption. Moreover, the company has made some improvement in financial structure in early 2018. Therefore, the decline in Turkish currency may result more exports.