CPF Shows an Increase by 16% in Sales Revenue Domestically and Internationally

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

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
2,842.05 6,945.47
Earning Per Share
0.3400 0.8500
% Change -59.08

CPF reported a net profit of Baht 2,842 million in 1Q22, decreased 59% from a net profit of Baht 6,945 million in 1Q21. The decrease was mainly due to a significant decline in gross profit margin and share of profit from associates in the quarter.

The Company recorded sales revenue for the first quarter of 2022 at Baht 138,887 million, a 16% increase from the same quarter of the previous year; contributed by Thailand and oversea operation’s revenue that increased 13% and 18% respectively.

Gross profit margin of 13% in the first quarter of 2022, declined from 20% in the same quarter of the previous year, mainly from higher cost of feed’s raw material which was partly impacted by the Russia-Ukraine conflict while swine price in certain countries was lower than the same period of last year.  

Share in profit of associates decreased Baht 2,379 million from the same period of the previous year, primarily due to the decline in performance of Chinese associate companies reflected by the decline of swine price and the increase in raw material costs.