CP Foods H1 profits up 134% to B18.9bn

Charoen Pokphand (CP) Foods Plc has posted a net profit of 18.9 billion baht for the first half of the year, growth of 134% year-on-year.

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The strong performance was fuelled primarily by overseas operations, which contributed two-thirds of total sales, supported by enhanced supply chain efficiency, stringent livestock disease prevention measures and effective cost control amid lower soybean meal prices.

Prasit Boondoungprasert, chief executive of CP Foods, said the company generated total sales of 292 billion baht during the period.

International operations accounted for 62% of sales, exports contributed 5% and domestic sales made up the remaining 33%.