CPF forecasts 5-10% sales growth next year
Charoen Pokphand Foods (CPF) forecasts its sales will grow by 5-10% next year with operating profits stabilising in light of a business restructuring to focus more on ready-to-eat foods and animal feed.
“We are still upbeat about maintaining the growth momentum next year, with sales growth of about 5-10% on par with this year’s growth,” says Adirek Sripratak, president and CEO of the SET-listed flagship of Charoen Pokphand Group (CP), the country’s agribusiness conglomerate.
“We also project more stabilised profit in the year to come, as we have restructured our business model from heavily depending on commodities, particularly meat for which prices are volatile, to [ready-to-eat] food and animal feeds and CP brand development.”
