CPF profit up 43% in Q1

May 22, 2020

CPF’s net profit in the first quarter of 2020 jumped 43% to USD 191 million on top of USD 4318 million in sales, up 10% year-on-year. CEO Prasit Boondoungprasert said the sales and profit in Q1 were driven by rising revenue of the pig business in Vietnam and Canada. Overseas business contributed 68% of the revenue and the remainder came from sales in Thailand. Mr Prasit said Covid-19 had a slight impact in the quarter. With purchasing power expected to decline further in the year, he said CPF would balance its portfolios with different species equally to sustain overall growth.