CPF 4th Qtr Hit by Slow Shrimp Recovery, but for Year Profit up 49%
SEAFOODNEWS.COM [Reuters] - February 27, 2015 -
Charoen Pokphand Foods (CPF) , Thailand's largest meat and animal feed producer, said fourth quarter net profit dropped more than a half, missing forecasts, hit by a slower-than-expected recovery in its shrimp business.
CPF, owned by billionaire Dhanin Chearavanont's Charoen Pokphand Group, posted on Friday a net profit of 807 million baht ($25 million) for the October-December quarter, lower than the 1.8 billion baht average forecast in a Reuters poll of six analysts.
This compared with 1.76 billion baht profit a year earlier.
For 2014, annual net profit rose 49 percent to 10.6 billion baht ($330 million), with sales rising 9 percent to 426 billion baht ($13.7 billion)..
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