Charoen Pokphand Foods, the Thailand-based food group, has reported higher third-quarter sales and profits, with the company citing domestic and international factors.
The company posted a 45% jump in third-quarter net profit to THB5.18bn. Charoen Pokphand Foods said its livestock business in Thailand had “returned to [a] normal situation”, while its domestic shrimp operations had continued to recover after being hit by disease. The company also pointed to an improved performance from its unit in Vietnam.
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Revenues grew 10% to THB122.55bn amid higher sales at home and abroad.
Last week, after the third-quarter results were published, Charoen Pokphand Foods announced the acquisition of 70% of Chinese poultry firm Fujian Sumpo, a deal made through the Thailand-based food group’s Hong Kong-listed venture CP Pokphand Co.
Last month, the company said it had bought a majority stake in UK foodservice supplier Foodfellas.
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