SET-listed Charoen Pokphand Foods Plc (CPF), Thailand's biggest agro-industrial and food conglomerate, posted a 1.8% year-on-year rise in net profit last year, attributed to an increase in sales revenue in aquatic and non-aquatic businesses.
The company posted a net profit of 15.5 billion baht in 2018, up from 15.3 billion the previous year.
Sales revenue expanded by 8% year-on-year to 542 billion baht from 502 billion.
Overseas business contributed 67% of total sales revenue.
Sooksunt Jiumjaiswanglerg, chief executive for agro-industrial business and co-president of CPF, said the company's sales revenue will expand by 12% year-on-year, based on assessments of local currencies in each country.
CPF operates in 17 countries, including China, the US, Britain, Malaysia and Russia.
The company exports many products from Thailand to more than 30 countries, involving more than 4 billion people worldwide.
This year's annual sales revenue should continue to grow by 8-10%, thanks to continuous growth in overseas business operations after the company's expansion in aquatic and non-aquatic businesses, Mr Sooksunt said.
Sujint Thammasart, chief operating officer for aquatic business, said the outbreak of early mortality syndrome and local diseases in several Asian countries has motivated the company to expand its aquatic production base.
The company's aquatic business is located in eight countries: Thailand, China, Vietnam, India, Malaysia, the Philippines, Brazil and the US.
In 2018, the aquatic business generated 74.5 billion baht in sales revenue.
The segment's revenue is expected to rise by more than 15% in 2019, with net profit anticipated to grow accordingly, particularly the aquatic operations in Thailand, Mr Sujint said.
Due to profound changes in consumer behaviour, CPF has emphasised R&D to introduce food products that are compatible with consumers' palates in various countries, said Sukhawat Dansermsuk, chief executive of food business and co-president of CPF.
The company's R&D programme also focuses on the quality of raw materials throughout the production chain and environmentally friendly packaging, Mr Sukhawat said.
As distribution channels will complement these strategies, the company has teamed up with Taiwan-based HiLai Group to open Harbour, a seafood buffet restaurant, at Iconsiam, he said.
The restaurant is operated by joint venture company CP-HiLai Harbour Co, established recently with registered capital of 160 million baht.
CPF, CP's flagship subsidiary, holds a 49% stake, while the Taiwanese firm owns 51%.
CPF shares closed yesterday on the Stock Exchange of Thailand at 26 baht, down 75 satang, in trade worth 1.21 billion baht.
