Bangkok-headquartered Charoen Pokphand Foods (CPF) has announced that sales rose over 10% to 464,465 million baht (approximately US $13.4 billion) in 2016, while net profits climbed an impressive 33%. Exports accounted for 68% of revenues.
In making the announcement, CEO Adirek Sripratak reported that the livestock business has returned to normal and the Thai shrimp industry is continuing to recover from the effects of Early Mortality Syndrome (EMS) disease that reduced output for a number of years and curtailed exports of frozen seafood.
Charoen Pokphand Foods CEO Adirek Sripratak reports that 2016 was a very good year for the company, as sales rose over 10% and profits increased 33%.Beyond Thailand, results generated by new subsidiaries in Russia and Cambodia have been on target and prospects are bright for recently acquired overseas companies including the Bellisio frozen ready meal producer in the USA and SuperDrob in Poland.
Meanwhile, CPF has reorganized its business into two operating units that will separately focus on food and agricultural activities. Accordingly, two co-presidents have been named to oversee the businesses. Sukhawat Dansermsuk is now heading up the food unit, while Sooksant Jiamjaiswanglerk, who was formerly vice chairman of CPF subsidiary CP Vietnam, is in charge of agricultural operations.
About CPF
Charoen Pokphand Foods is Thailand’s largest agro-industrial and food conglomerate, the nation’s No. 1 producer of meat and animal feed and exporter of frozen poultry products, and a major operator of retail stores and foodservice outlets. The company is active in both the livestock (swine, broilers, layers, and ducks) and aquaculture (shrimp and fish) businesses. Its vertically integrated structure incorporates the manufacturing of animal feed, animal breeding and animal farming; meat processing, the manufacturing of semi-cooked meat and fully-cooked meat; food products and ready meal products, as well as the meat and food retailer and restaurant businesses.
