Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


CPF CEO and President Adirek Sripratak (Photo: CPF)

CPF invests USD 939 mln to boost foreign revenue

Click on the flag for more information about Thailand THAILAND
Wednesday, August 18, 2010, 01:10 (GMT + 9)

Farmed white shrimp giant Charoen Pokphand Foods Plc (CPF) is following through with its overseas investment of at least THB 30 billion (USD 938.9 million) through 2015 in an effort to advance its plan to bolster foreign revenue contributions to 40 per cent in the next five years.

"We are committed to investing THB 6 billion (USD 187.8 million) a year over the next five years to expand production of animal feed and livestock at home and overseas," said company CEO and President Adirek Sripratak. "Over 60 per cent of that amount will go overseas, largely to expand existing operations in Russia, India, Turkey, the Philippines, Malaysia and some African countries."

CPF’s sales growth for the first six months of the year relied heavily on overseas operations, allowing that sector to skyrocket by 91 per cent. Thai operations climbed at a pace of 7 per cent.

For H1, the company had total sales of THB 91.47 billion (USD 2.9 billion), 21 per cent higher against the same period in 2009. Net profit in H1 soared by 82 per cent to THB 7.22 billion (USD 226 million), partially backed by income distribution from affiliate CP All Plc, the operator of 7-Eleven convenience stores in which CPF possesses 27 per cent, and others, reports Bangkok Post.

For the second quarter of 2010, CPF reported a net profit of THB 4 billion (USD 125.2 million), 25.3 per cent higher compared to Q2 2009 on total revenues of THB 48.49 billion (USD 1.5 billion), a rise of 18.47 per cent.

The jump in sales revenue, Adirek said, could have been caused by higher food product sales and increasing income abroad.

The shrimp business profited from a worldwide fall in production due to irregular weather conditions and the BP oil spill in the Gulf of Mexico.

As of Q2, overseas operations constituted 27 per cent of CPF sales. Exports made up 13 per cent and domestic sales 60 per cent.

The company's five-year plan says that the firm intends to lift the revenue contribution from overseas operations to 40 per cent, with exports comprising 20 per cent and domestic sales 40 per cent. Adirek said the company anticipates a record profit of over THB 12 billion (USD 375.5 million) for the year.

CPF had a record net profit of THB 10.19 billion (USD 318.9 million) last year, up by a whopping 226 per cent from 2008, with a sales revenue increase of 6 per cent to THB 165.06 billion (USD 6.2 billion). Revenue approach THB 180 billion (USD 5.6 billion) this year, which the firm foresees will grow by an average of 10 per cent by 2015.

"We have done better than targeted with increasing revenue from overseas businesses," he said. "Our investments in over 10 countries will pave the way for future growth."

He added that prospects also look hopeful for H2, such that contributing a profit growth target of 20 per cent in 2010 will be attainable.

Thailand-based CPF‘s fully integrated operations span aquatic feed for shrimp and fish, aquatic breeds, shrimp and fish aquaculture and meat and food products.

Related articles:

- CPF and AKVA strike cooperation accord
-
Thai food firm to invest USD 41 mln in aquaculture

By Natalia Real
[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
United States
May 24, 03:00 (GMT + 9):
IN BRIEF - Notice of Stakeholder Registration - Alaska RFM Assessment for Crab
Namibia
May 24, 02:50 (GMT + 9):
Fishcor horse mackerel plant progresses as planned
Russian Federation
May 24, 02:10 (GMT + 9):
Norwegian trawler owner detained in Russia seeks diplomatic aid
Norway
May 24, 02:00 (GMT + 9):
IN BRIEF - Mixed outcome for Norway fish farmers in preliminary report on growth
United States
May 24, 02:00 (GMT + 9):
IN BRIEF - Omega 3 Supplements Market Size Worth USD 57.07 Billion by 2025: Grand View Research, Inc.
Norway
May 24, 02:00 (GMT + 9):
IN BRIEF - Norway signs deal to help resume salmon exports to China
Chile
May 24, 01:40 (GMT + 9):
Pelagic landings double in the first quarter
European Union
May 24, 01:40 (GMT + 9):
Brussels declares Saint Vincent and the Grenadines and the Comoros as non-cooperating countries
Australia
May 24, 01:00 (GMT + 9):
IN BRIEF - Huon Aquaculture advises its CEO has sold 1.75 million shares of co to a range of institutions
India
May 24, 01:00 (GMT + 9):
IN BRIEF - Fish-farming to head inland in bid to boost exports
Australia
May 24, 01:00 (GMT + 9):
IN BRIEF - Huon Aquaculture Macquarie Harbour Submission to the EPA
Faroe Islands
May 24, 00:50 (GMT + 9):
Bakkafrost records good results in Q1 despite some issues
Spain
May 23, 23:50 (GMT + 9):
Shipowners seek to market products made with six species discards
United Kingdom
May 23, 23:10 (GMT + 9):
Scotland opens GBP 1m innovation fund for aquaculture SMEs
Spain
May 23, 22:40 (GMT + 9):
UMU joins European project to boost seabass and gilthead seabream production



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Norway lobster abundance in the Gulf of Cadiz studied through underwater images
Spain Researchers from the Spanish Institute of Oceanography will estimate the abundance of Norway lobster in the waters of the Gulf of Cadiz through underwater videos made with a photogrammetric sledge.
Bluefin tuna quota left uncaught, ensures CONAPESCA
Ecuador The Mexican tuna fleet has not yet completed the catch quota for bluefin tuna (Thunnus orientalis) established by the Inter-American Tropical Tuna Commission for Mexico.
Vietnam’s shrimp exports remain stable in Q1
Viet Nam In the first quarter this year, Vietnamese shrimp exports reached the same value as the same period in 2016, at USD 618.3 million, Vietnam Association of Seafood Exporters & Producers reported.
Mackerel stocks boosted with tougher management measures
Thailand Mackerel stock increase in the Gulf of Thailand over the last three years shows that marine resources are being managed as demanded by the EU, according to the Department of Fisheries.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Nueva Pescanova, S.L. - Group Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
Food Project (Siam) Co., Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  -Holding Headquarter-
Greenpeace International - The Netherlands
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
Ocean Trawlers Group - Ocean Trawlers HK Ltd.
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2017 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER