CPF profit rose 17% in 2012
- Published: 26 Feb 2013 at 13.23
- Online news:
The country's largest agro-conglomerate Charoen Pokphand Foods Plc (CPF) said its net profit for the whole year rose by 17% to 18.79 billion baht, in its report to the Stock Exchange of Thailand.
Bloomberg News Agency reported that CPF's net profit was lower than the 20.2 billion-baht average estimate of 22 analysts surveyed by Bloomberg.
The company said total expenses rose 83% to 355.3 billion baht in 2012. The company is expanding farms and animal feed plants in China and other Asian countries to boost earnings. In November, it blamed lower prices for meat products and higher raw material costs for a 53% dip in third-quarter profit to 2.4 billion baht. Its fourth quarter net profit plunged to 238 million baht.
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