Charoen Pokphand Foods Public : CPF reports 3,955 million baht net profit Q1, 2017, 70% of the turnover attributes from overseas operations
May 12, 2017 at 11:35 am EDT
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Charoen Pokphand Foods (Plc) or CPF reports THB 119,617 million turnover in 1Q/2017, up 13% year-on-year. Offshore business accounts for 70% of the total sales whilst the domestic market shares 30%, net profit THB 3,955 million, up 5% year-on-year.
Mr.Adirek Sripratak,Chairman of the Executive Committee, said the business performs in line with the projection. Aquaculture business has rebounded and broiler exports have grown positively. However, swine business has been adversely affected from oversupply across the region. Gross margin declines across the board in Vietnam, Cambodia and Thailand compared with 1Q/2016. Offshore businesses in China, Russia and the Philippines have expanded remarkably.
CPF Board of Directors meeting on May 11, 2017 resolved to propose to shareholders at the 1st extraordinary shareholder meeting on June 27, 2017 to approve the company's plan to raise registered capital THB 1,548,588,386, up from THB 7,742,941,932 to a total of THB 9,291,530,318 by issuing THB 1,548,588,386 ordinary shares with a par value 1 baht each. The new shares will be allocated to existing shareholders at the ratio of 5:1, THB 25 apiece. Registration book of shareholders closing date is May 29, 2017.
The proceeds will be used for refinancing loans or debentures to reduce financial expenses incurred from debts and interests and thereby improving the company financial performance. Also, the raised capital will partially set aside for future investment./
CPF - Charoen Pokphand Foods pcl published this content on 12 May 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 May 2017 15:34:21 UTC.
Original documenthttp://www.cpfworldwide.com/en/media-center/news/view/905
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Charoen Pokphand Foods Public Company Limited is a Thailand-based company, which is engaged in the agro-industrial and integrated food businesses. The Company operates through two segments: livestock and aquaculture. The livestock business comprises of chicken, duck, and pigs. The aquaculture business segment comprises of shrimp and fish. The Company's integrated agro-industrial and food businesses includes animal feed production, animal breeding, animal farming, primary meat processing, food production and ready-to-eat food as well as meat and food retail outlets, all of which are conducted by placing importance on animal welfare and biosecurity system. The Company's products are divided into three categories, namely, animal feed, animal farm products such as animal breeder, live animal and primary processing meat, and processed foods and ready meals. Its other products include swine, broiler, layer, duck, and shrimp. The Companyâs products are distributed under the CP brand.
CHAROEN POKPHAND FOODS 
