CP Foods Records Net Profit up Three-Fold
THAILAND - Charoen Pokphand Foods Public Company Limited (CP Foods) reports net profit for the first quarter of this year at 3.224 billion baht (THB), up from just under THB771 million for the same period last year.
13 May 2010
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Earnings per share for the last quarter were THB0.48, compared with THB0.11 for the first quarter of 2009.
The report adds that the net profit of the Company and subsidiaries for the first quarter of 2010 was reported at THB3.224 billion, which increased by 318 per cent compared to that of the previous year. The said increase was mainly due to the increase in operating results of Thailand operations, which resulted from the continuous improvement in cost management efficiency, and the increase in operating results of overseas operations, especially from subsidiaries in Turkey, India and Malaysia.
Gross profit margin of the Company and its subsidiaries increased from 15 per cent to 18 per cent. In addition, the decline in finance cost, which resulted from the efficiency in financial management, urged the net profit to increase from two per cent to seven per cent.
