Net profit for the January-March period this year was more than six times higher than the same period of 2024, reports Charoen Pokphand Foods (CPF).
At almost 8.55 billion Thai baht (THB; US$260 million) for this latest full quarter, the net profit figure compares with a little over THB1.15 billion one year ago.
Driving this dramatic improvement were operational improvements and rigorous cost control throughout the supply chain, according to CP Foods’ CEO, Prasit Boondoungprasert.
Furthermore, he said, ongoing disease outbreaks — particularly avian influenza and African swine fever — in multiple countries around the world have reduced global supplies of poultry and pig meat, respectively, while production costs have largely remained unchanged.
Commenting on the latest results, Prasit said that the group had been able to maintain productivity and product quality throughout the reporting period. Supporting this performance were its commitments to livestock disease control, and continuous investment in innovations and IT management systems.
Company's business prospects for 2025
Focusing on strategic initiatives that overcame previous challenges, CP Foods forecasts full-year results that show improvement over 2024.
Commenting on the potential impacts of U.S. tariffs, the company’s CEO stated that exports to that destination are negligible. Across the 10 markets where CP Foods has operations, the great majority of its products are sold locally. Exports account for 4-5% of production, with the bulk shipped to Japan and European states.
More on CP Foods
With annual production of 685 million birds, CP Foods (CPF) is the fourth largest poultry meat company in Asia, according to WATTPoultry.com’s Top Poultry Companies survey in 2023. It is easily the leading producer in its home market of Thailand. Contributing to the group’s poultry output are meat from chickens and ducks, as well as eggs and egg products.
According to the firm’s own web site, its food businesses outside poultry include swine and aquaculture (shrimp and fish). Together, these are categorized into three groups: Feed, Farm, and Food. Additionally, the group operates retail and food outlets.
As a feed producer, CPF is the fifth largest in the world, with 17.2 million metric tons of feed output during the previous year.
Contributing 54% of total sales revenue, CPF’s Farm business covers the breeding and growing of swine, poultry, and aquaculture. Of its other operations, 24% and 22% of sales are derived from its Feed and Food operations, respectively. The latter group includes cooked products and ready meals.
Together with its joint ventures, CP Foods has manufacturing sites in 17 countries, and exports to 50 markets worldwide.
In the last full financial year (ended December 31, 2024), the company reported sales revenue of close to THB581 billion — down slightly from the almost THB586 billion for the previous 12 months. At around THB22.3 billion, profit for the period reversed a THB2.53-billion loss in 2023.
Participating in an innovative local environmental clean-up project earlier this year, CP Foods offered eggs to Thai people in exchange for leaves they had collected in one district of northern Thailand. Aim of the initiative was to reduce the volume of leaves burned, thus improving local air quality.
At an event last year, the group’s CEO described the history of CP Foods since its founding in 1978, and explored Thailand’s potential to become a global agriculture and food powerhouse.
