Process Management

News 1147 views last update:6 Aug 2012

CPF adjusts 2006 revenue forecast

Charoen Pokphand Foods (CPF) has lowered its revenue forecast for the year, from Bt130 billion to between Bt125 billion and Bt127 billion, due to the negative impact of the strengthening of the baht against the US dollar.

President Adirek Sripratak said recently that apart from the foreign-currency effects, the company also faced sideways prices in the domestic feed-meal market. However, the company expects its revenues to grow 10% next year to Bt140 billion. Adirek said increases in future revenues were expected from its investments in countries like Turkey, India, Malaysia and England.

Foreign investments
CPF's total investment budget next year of Bt4 billion will be divided equally between domestic and foreign projects, he said. Among its foreign investments, the company plans to build a feed-meal plant and swine and chicken farms in Russia and aquaculture farming projects in Laos and China. Those projects are expected to be completed next year.

Ayudhya Securities' Research Department does not expect CPF's lowered forecast to have much of an effect on the company's share price. However, CPF's investments abroad will have to be monitored, because except for the Russian projects, there is no clear investment plan.

Editor AllAboutFeed

Or register to be able to comment.