CPF Records THB13 Billion of Net Profit in 2021, Offering THB0.25 Dividend Payment

Charoen Pokphand Foods Public Company Limited (SET: CPF) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;

Yearly 2021 2020
Net Profit (Loss)
Million Baht
13,028.26 26,022.39
Earning Per Share (Baht) 1.56 3.14
% Change -49.93

CPF reported a net profit of Baht 13,028 million in 2021, decreased 49.93% from a net profit of Baht 26,022 million in 2020. The decrease in net profit was mainly due to lower consumer purchasing power amid lockdown from Covid-19 outbreak and the company’s operating expenses.

The company’s revenue from sales in 2021 amounted to Baht 512,704 million, a decrease of 13% from the previous year which mainly resulted from the deconsolidation of Chia Tai Investment Co., Ltd. (CTI) in December 2020. Without the impact of the CTI deconsolidation, sales revenue in 2021 increased by 10%.

Gross profit margin was 13%, lower than last year’s of 18% due to a 20% decline in swine price in Vietnam and higher animal feed production cost compared to previous year due to an increase in raw material prices. Furthermore, the drop of swine prices also resulted in a decrease in gain (loss) of fair value of biological assets by Baht 2,111 million from last year.

In addition, the Board of Directors approved a dividend payment of THB 0.25 per share to be paid on 25 May 2022. The ex-dividend date is 5 March 2022.