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CPF rides pandemic boom, expects 10 per cent revenue surge

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CPF rides pandemic boom, expects 10 per cent revenue surge

By The Nation

 

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Prasit Boondoungprasert, CPF chief executive officer

 

Charoen Pokphand Foods (CPF) expects revenue this year to grow by up to 10 per cent as the company has benefited from the Covid-19 pandemic and African Swine Fever (ASF).

 

 

CPF chief executive officer Prasit Boondoungprasert said the company's first-half revenue and net profit was very good as the Covid-19 pandemic worldwide had boosted consumers' demand for safe food, boosting the company's sales.

 

"The company has won the confidence of consumers worldwide because Thailand was able to contain the spread of Covid-19," he said.

 

"In addition, CP Pokphand, a CPF subsidiary, revealed that the company's first-half net profit was expected to be at US$330 million (Bt10.230 billion), compared to US$82 million during the same period in the previous year, as the price of pork in Vietnam was high during the previous six months due to ASF, but the company was able to effectively contain the spread of the disease," he said.

 

He believes that the ministries of Commerce and Agriculture and Cooperatives would achieve success in promoting Thailand to be the world's centre for food products and the world's top 10 food-exporting countries.

 

"However, it depends on cooperation between parties," he added.

 

Source: https://www.nationthailand.com/business/30392285

 

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-- © Copyright The Nation Thailand 2020-08-02
 

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6 hours ago, rooster59 said:

Charoen Pokphand Foods (CPF) expects revenue this year to grow by up to 10 per cent as the company has benefited from the Covid-19 pandemic and African Swine Fever (ASF).

I really don't think that's a great piece of media promotion mate

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No .... I'm sure he could have approached the increase from a healthier prospective and not mentioned COVID19 or Swine flu being involved,  very unprofessional.   imo

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Posted (edited)

if that the reason why pork price has gone up a good 40-50 percent ?

 

are profits up as they have a monopoly on meat / food ?  makro + tesco + (big c soon?)

Edited by Bender Rodriguez

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3 hours ago, Bender Rodriguez said:

if that the reason why pork price has gone up a good 40-50 percent ?

 

are profits up as they have a monopoly on meat / food ?  makro + tesco + (big c soon?)

Exactly. What can you expect when there is no competition. I just wish someone else would open up. I am so peed off with Macro absolute useless <deleted> store

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9 hours ago, RichardColeman said:

I really don't think that's a great piece of media promotion mate

He's the CEO, but definitely needs some training in Public Relations.  🙂

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