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Charoen Pokphand Indonesia profit doubles

Despite higher production costs and selling prices, Charoen Pokphand Indonesia more than doubled its first semester net profit, compared to 2007.

The company, which is a subsidiary of Thailand-based Charoen Pokphand Foods, accumulated Rp 209.6 bln (US$22.8 mln) net profit in the first semester of 2008, 120% higher than the Rp 95 bln profit in the same period last year and surpassing the entire year's profit of Rp 185.5 bln in 2007.
"We have a growing market and increasing prices. The whole industry is growing despite the fuel increase," said the company's vice president, Thomas Effendy. The profit comes mainly from three types of product, all of which saw rising sales in terms of volume and price. Animal feed contributed 78% of sales, day-old chickens 13% and processed chicken meat 7.8%.
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