CP Foods currently operates in 17 countries worldwide.

CP Foods increases sales thanks to overseas operation

THAILAND
Thursday, November 15, 2018, 23:00 (GMT + 9)

Charoen Pokphand Foods PCL (CP Foods) has managed to increase total sales by 7 per cent year on year in the first nine months of 2018, by obtaining THB 398.3 billion (USD 12 billion), thanks to business growth from overseas operations.

Chief Executive Officer (CEO) for Agro-Industrial Business and Co-President at the firm Sooksunt Jiumjaiswanglerg said overseas operations in the first nine months this year accounted for 67 per cent of the company’s total sales, an increase by 12 per cent year-on-year.

“The overseas investment is a part of the company’s sustainable growth strategy. CP Foods has invested in promising overseas markets for agriculture and food sectors, focusing on developing countries with a demand for high quality and modern farming.” he explained, adding that CP Foods currently operates in 17 countries worldwide.

Source: Reuters.com

It reported a 9-month net profit growth of 7 per cent, to THB 13.855 billion (USD 419.9 million), due to pork price recovery in Vietnam and Cambodia. As a result of good overseas performance, CP Foods is confident of achieving 2018’s target and also forecast business continues to soar driven mainly by the overseas operations in 2019.

On the business expansion, the firm’s Chief Executive Officer (CEO) - Food Business and Co-President Sukhawat Dansermsuk said the company has set up a Research and Development Centre to deliver food products suitable for all group of consumers, including patient foods and aging consumers.

Source: Reuters.com

He also pointed that the company must deliver new products that meet consumer’s demands to overcome growing challenge in ready-to-eat meal business.

CPF’s vision sets to achieve “Kitchen of the World” by providing safety food and quality products that are able to trace back throughout supply chains.

Source: Reuters.com

Moreover, it supports efficient resource consumption as well as taking responsibility for the social developments based on good corporate governance, initiatives that the company highlights are recognized by organizations across the world such as Thailand Sustainability Investment, DJSI and FTSE4Good index.

Photo: CP Foods

CPF Foods operates both in the livestock sector (swine, broilers, layers, and ducks) and in aquaculture (shrimp and fish). Its activities include the manufacture of animal feed, animal breeding and animal farming, the manufacturing of processed food and the marketing products in the retailer sector and restaurant businesses.
 
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