Thailand-based Charoen Pokphand Foods reported a net profit of 4.869 billion baht (US$162.4 million) for the second quarter 2011, up 40% from the previous quarter.
For the second quarter 2011, CPF reported sales revenue of 53.23 billion baht (US$1.78 billion), an increase of 11% over the same period in 2010. Net profit reached 4.869 billion baht (US$162.5 million), an increase of 40% from the previous quarter and 22% from the same period in 2010.
The company's president and CEO, Adirek Sripratak, expects 2011 overall net profit to remain strong as well, thanks to restructuring of operations in Thailand and the company's overseas expansion.
While cat trends continue, the pandemic has added to overall slow-growth treatment of the cat food market.
Premiumization and humanization, as well as automation, fueled continued operation growth in spite of the COVID-19 pandemic.