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In the year 2011, the volatile economic condition worldwide and the catastrophic flooding in Thailand had caused financial woes and disruptions to all business sectors. With clearly defined objective and policy regarding risk management and cautious investment, Charoen Pokphand Foods Public Company Limited or “CPF” weathered the economic storm and natural calamities. The Company performed exceedingly well in 2011. CPF’s consolidated sales reached THB 206,099 million and net profit was THB 15,837 million, an increase of 9% and 17% respectively, over last year’s performance.
The Board of Directors approved interim dividend of THB 0.60 per share for the first six-month performance to be paid on 9 September 2011 and proposed the annual dividend of THB 0.60 per share for the latter six months to be approved at the Annual General Shareholders’ Meeting No. 1/2012 on 25 April 2012. Total dividend for the year would be THB 1.20 per share or 70% of net profit of the year 2011 (according to the separate financial statement).
cquisition of C. P. Pokphand Co., Ltd. (CPP) will be completed in the first quarter of 2012 as per approval by the Extra Ordinary Shareholders’ Meeting No. 1/2012 held on 18 February 2012. CPF will hold 74.18% of CPP, a listed company on the Stock Exchange of Hong Kong Limited. CPP’s operations include feed business in People’s Republic of China and integrated agri-business in Vietnam. This acquisition is in line with CPF’s strategic expansion plan of investing in agri-business in countries with high growth potential. As a result of the acquisition, CPF’s sales in 2012 is expected to grow at least 50%. Sales from overseas operation will account for 50% of total sales as compared to 25% in 2011. Post acquisition, CPF will be on the forefront of agri-industrial companies in Asia Pacific region, with operations in 11 countries worldwide.
The Company continues to emphasize in product creation with the production and distribution of ready-to-eat food products under the CP brand. At present,CP food products are sold in Thailand and over 20 countries around the globe. The Company is dedicated to growing this business to promote quality food products from Thailand and to fulfill our vision of being “Kitchen of the World.”
Main mission of the Company is to attain sustainable growth. To achieve this mission, the Company has set 6 strategic corporate directions as follows:
- 1. to become a world-class company,
- 2. to be a leader in providing quality products with food safety integrity,
- 3. to expand integrated food business,
- 4. to innovate and increase efficiency,
- 5. to emphasize personnel development,
- 6. to achieve sustainability through social responsibility.
In addition to the above mentioned strategic directions, good corporate governance, comprehensive internal control, and prudent risk management will enable the Company to compete in the international arena and provide sustainable and satisfactory returns to our shareholders.
On behalf of the Board of Directors, the management and staff, the Company is thankful to our shareholders for the continual trust and support.