Higher Material Costs Pressure GFPT to Report 53% Decrease in 3Q23 Profit

GFPT PCL (SET: GFPT) reported its Q3 financial result on 9 November which details the following.

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
319.04 683.39
Earning Per Share
0.2500 0.5500
% Change -53.31
9 Months 2023 2022
Net Profit (Loss)
Million Baht
966.14 1,592.79
Earning Per Share (Baht) 0.7700 1.2700
% Change -39.34


GFPT’s net profit in 3Q of 2023 accounted for THB 319.04 million or equal to EPS of THB 0.25 per share, decreased by THB 364.34 million or 53.31% YoY. This was due to higher feed raw material cost (Corn and Soybean meal) and lower revenue of export sales, especially processed chicken.

GFPT had total revenue from sales of THB 4,770.84 million in 3Q of 2023, representing a decrease of THB 280.26 million or 5.55% YoY, mainly from lower revenue of the food business, despite the higher revenue from farm business, especially live broilers sales.


GFPT’s revenue from the food segment represented 46.70% of total revenue from sales which was THB 2,228.14 million, decreased by THB 497.24 million or 18.24% YoY decrease, mainly from lower revenue from export of chicken products from lower sales volume and selling price of export of chicken products.

GFPT’s revenue from the farm segment represented 35.98% of total revenue from sales which was THB 1,716.35 million, increased by THB 249.62 million or 17.02% YoY increase, which was due to higher revenue from selling live broilers.


GFPT’s revenue from the feed segment represented 17.32% of total revenue from sales which was THB 826.36 million, decreased by THB 32.63 million or 3.80% YoY. Mostly from lower revenue from selling animal feed from lower sales volume of animal feed and lower revenue from selling aqua feed from lower sales volume of aqua feed.