Annual profits have risen at Thailand-based meat giant Charoen Pokphand Foods despite a dip in sales.
Net profit increased for the year to 31 December to THB16.4bn (US$460.4m) from THB14.2bn for the same period a year earlier.
CP Foods’ profits were boosted by an increase in its share of profits from associates and joint ventures, as well as higher other income contributions during the year.
Profits before interest and taxes increased to THB20bn from THB17.9bn.
Sales for the period, however, were lower at THB421.4bn, down from THB426bn in 2014. Sales increased at its Asian business but fell in other divisions.
FY sales breakdown by region
- Thailand: THB140.6bn v THB148.3bn
- Asia: THB241.6bn v THB235.1bn
- Europe: THB33.3bn v THB35.7bn
- America: THB4.2bn v THB5.8bn
- Other: THB1.7bn v THB1.1bn.