Charoen Pokphand Foods showed a nine-month profit of this year at approximately 19,614 million baht, a 36% increase from the previous year. Confident that the performance of the next year will continue to be good
On November 12, 2020, the reporter reported that Charoen Pokphand Foods Public Company Limited or CPF reported profit for the third quarter of 2020 of 7,475 million baht, a 23% growth from the same quarter of last year.
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For 9 months of 2020, the company has a profit of 19,614 million baht, 36% growth from the same period of the previous year With profit before interest and tax expenses And depreciation (EBITDA) amounted to 61,658 million baht, an increase of 87% from the previous year.
This is the record high EBITDA. The main factor was the shortage of swine in the region due to the ASF (African Swine Fever) epidemic, which resulted in the market price being higher than the previous year. In addition, the profitability of the aquaculture business in Thailand continued to improve due to the adjustment of marketing strategies and business model adjustment.
Prasit Boonduangprasert CPF’s chief executive said that CPF’s performance improved. The main factor is the shortage of pigs in Asia. Due to the ASF outbreak, the amount of pigs has decreased greatly.
Especially in Vietnam and China. This caused the pig price level to increase abnormally from the previous year. As well as resulting in a change in the structure of the pig farming industry. Since there is no vaccine to prevent outbreaks. Therefore, the farmer must manage the farm in strict accordance with the biological standards to prevent disease. And have piglets that are strong and resistant to disease Therefore, increasing the supply of pigs into the market will still take time. Because if handled poorly, it can lead to more disease.
Besides the pig business The performance of the aquaculture business in Thailand has significantly improved profitability from the previous year. As the company adapts its business models and strategies that weigh more on its domestic marketing. We believe that the aquaculture business in Thailand and abroad will perform well from now on.
For the 2021 target, the company has set goals for continuous profitability. Due to business expansion and increasing production in many countries It is expected that next year’s hog prices are likely to weaken from this year but remain at a high level and the company will recognize more profit from the pig business in China that small shareholders have approved to enter. Listed at the end of October. Therefore, we are confident that next year will still have a good performance.
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