CPF’s 3Q19 Profit Surges 23% after Recording a Jump of 235% from the Sale of Investment

Charoen Pokphand Foods Public Company Limited (CPF) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

The Company’s revenue from sales decreased Baht 8,796 million or 6% decrease, mainly due to foreign currency translation from the strengthening of Thai Baht against other currencies and the adoption of an accounting standard TFRS 15 regarding revenue from contracts with customers.

Net profit for the third quarter of 2019 increased from the same period last year by Baht 1,150 million or 23% due to better performance of swine business of Thai subsidiaries and gains on the sale of investments.

The gain on sale of investment in the third quarter of 2019 recorded at 3,541 million baht, increased by 235% from 1,056 million baht in the same period of last year.