Charoen Pokphand Foods (CPF) reported THB11.68 billion (US$350 million) in net profits in the first six months of 2021, a decrease by 4% from the same period of 2020, following a decrease in profit sharing from investments. The board of directors announced the TBT 0.40 interim dividend payment, payable on 10 September 2021.
Prasit Boondoungprasert, CEO of CPF, said that CPF’s first-half sale revenue reached TBT248,984 million, a 12% decrease from the corresponding period of 2020 after Chia Tai Investment Co., Ltd. (CTI)’s status was changed from a subsidiary to an affiliated company in December 2020. CTI operates an animal feed business in China. Due to the status change, CPF realized zero revenue from the sale of CTI in 2021. Excluding this item, CPF’s first-half sale revenue would have been 12% higher than the same period last year while EBITDA would have shown a 10% increase.
CPF’s operations in Thailand reported an 8% increase in sale revenue in the period, while overseas businesses enjoyed a 14% increase. The increase resulted from higher sale volume and product prices in some countries like the Philippines, Cambodia, and Russia stayed above last year’s levels. CPF has continually emphasized production and cost efficiency, together with operational efficiency. The maximum occupational health standards have been exercised at the workplace. According to the company, employees have been well-taken care of in terms of accommodations, transportation and overall well-being, to lessen their visits to risk areas. CPF assures all employees of the zero-layoff policy, the procurement of vaccines, the establishment of a field hospital, etc. All actions are driven by the goal to ensure national food security amid the COVID-19 pandemic.
CPF has also helped Thai society deal with the pandemic. The “CPF Food from the Heart against COVID-19” project has been running for more than a year, to deliver food and water to medical personnel and vulnerable people as well as over 500 hospitals, field hospitals, vaccination centers, government agencies, and private organizations. CPF lately teamed up with Charoen Pokphand Group in launching the "Krua Pan Im" project, to distribute 2 million packs of ready-to-eat meals to about 40 communities across Bangkok. These meals are from the company’s food products as well as meals bought from small vendors.
Prasit added that CPF has been selected as a member of the FTSE4GOOD Emerging Index by FTSE Russell for the 5th consecutive year. The membership reflects its leadership in the global agro-industrial and food business in terms of the development of environmentally-friendly production processes and holistic care for society, in an attempt to create shared values throughout the supply chain and promote good governance under its vision of “Sustainable Kitchen of the World.”
