Thailand-based Charoen Pokphand Foods (CPF) announced its net profit for the third quarter of 2009 increased by 2,728 million baht (US$82 million), or 197%, against the same period last year, to 4,116 million baht (US$124 million).
CPF’s net profit for the first nine months of 2009 reached 8,080 million baht (US$243 million), and the company is forecasting its 2009 net profit to hit a record high.
Improvement in operating results of livestock business and aquaculture business in overseas operations, especially in Turkey, drove the profit growth, said CPF. In addition, efficient cost control, better operating results in domestic plants and higher associated income also contributed to increased profits.
CPF has expanded its operations into nine regions including Turkey, India, Malaysia, Philippines, Russia, Laos and Taiwan and plans further expansion in other countries with high potential.
For domestic operations, CPF will focus on food business, especially aquaculture products, to serve domestic and export markets.