CPF’s 2Q Profit Soars 47% to ฿6Bn, Offering ฿0.40 Dividend Payment!

Charoen Pokphand Foods Public Company Limited (CPF) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

 

CPF reported a net profit of 6,028 million baht in 2Q20, increased 46.88% compared to a net profit of 4,104 million baht in 2Q19. The increase was mainly due to an increase in revenue from sales and profit margin of oversea operations.

Revenue from sales in the second quarter of 2020 was at Baht 143,805 million, an increase of 7% from the same quarter last year as a result of a 12% increase in sales from oversea operation and 2% decrease in Thailand operations. The better performance was mainly due from farm-processing business in oversea operation.

The company gross profit margin in the second quarter of 2020 was at 18%, increased from 14% in the same quarter last year. This was mainly due to an increase in swine price in Asia which resulted from the decline of swine population from the spreading of ASF (African Swine Fever). Aquaculture business in Thailand has also improved significantly due from efficiency improvement in operations.

 

In addition, the Board of Directors approved a dividend payment of 0.40/share to be paid on September 11, 2020. The ex-dividend date will be on August 28, 2020.