CPF Reports a Soaring Profit of ฿6.1Bn in 1Q from Higher International and Domestic Sales

Charoen Pokphand Foods Public Company Limited (CPF) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

In 1Q20, CPF booked a profit of 6,110 million baht, increased 42.80% from a net profit of 4,279 million baht in the same period of last year. The increase was due to an increase in revenue from sales and profit margin.

CPF recorded a revenue from sales in the first quarter of 2020 at 138,135 million baht, an increase of 10% from the same quarter last year as a result of a 12% increase in sales from international operations and 6% increase in Thailand operations. The better performance was mainly due from farm business, especially in Vietnam.

The company’s gross profit margin in the first quarter of 2020 was at 18%, increased from 14% in the same quarter last year. This was mainly due to an increase in gross profit of swine business as a result of the spreading of ASF (African Swine Fever), especially in Vietnam, which resulted in a significant decline in the number of swine in Vietnam which had an effect on the increase of the average selling price in Vietnam compared to the same quarter last year.