Charoen Pokphand Foods, the listed food unit of Thai conglomerate CP Group, has reported higher sales and profits for the first quarter of the year.
Net profit almost doubled to THB2.05bn, the company said. It cited a jump in gross margins from 9% in last year’s first quarter to 13% in the first three months of 2014. The company also pointed to an increase in sales, which rose 12% to THB98.12bn.
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Charoen Pokphand Foods enjoyed a 12% rise in domestic sales to THB35.61bn. Thai sales account for under half of its revenue.
However, its Thai operations exported less, with sales from shipments falling 15% to THB6.05bn.
Its overseas operations saw revenue jump 16% to THB56.46bn.
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By GlobalData
