CPF achieves H1 revenue target

August 15, 2019

CP Foods has reported USD 8.4 billion in sale revenue for the first half of 2019, a slight increase from the same period last year. Earnings before interest, tax, depreciation and amortization (EBITDA) reached USD 720 million a 44% increase from a year earlier. Prasit Boonduangprasert, CEO of CPF, said that sale revenue in local currency increased by 5-6% on year. However, as 67% of CPF’s total revenue originated overseas, the contribution was affected by the appreciation of the Thai baht against other currencies. Once converted to Thai baht, the revenue in local currency showed an increase of only 4%. Nevertheless, thanks to the easing of pork oversupplies especially in Thailand, Vietnam and Cambodia, CPF’s profitability improved tremendously.