Charoen Pokphand Foods PLC (CPF) expects the revenue in 2017 to grow 10% as expected thanks to income from overseas businesses, planning productivity enhancement to materialize its "Kitchen of the World" vision.
Mr. Sooksunt Jiumjaiswanglerg, chief executive officer of CPF's Agro Industrial Business and Co-President, CPF is guided by the vision to become a world-class food company through innovations to add the agri business's value, business expansion, and grow overseas businesses. This is to maintain its position as a leading and responsible food company that can satisfy demand across the globe.
"UN FAO ranks CP Group the world's fourth largest food producer. We produce and export pork, chicken and shrimps, operating with international standards and governance practices," he said.
CPF has followed through its growth strategy, adopting the integration model in its agri-business operations. It operates with the longest supply chain encompassing feed production, farming and food processing, allowing quality control and traceability throughout the process and addressing the food sustainability issue. This adds credibility to its brands made known to global consumers.
CPF is geared to grow business overseas to cover all regions. The operations span through 17 countries - Thailand, Vietnam, Cambodia, Laos, Malaysia, the Philippines, Taiwan, China, India, Sri Lanka, Russia, Turkey, Poland, Belgium, the United Kingdom, the United States as well as the acquisition of Peter Paulsen in Germany this year.
CPF targets about Bt500 billion in sale revenue in 2017, a 10% growth rate from the previous year. High-quality and safe food remains CPF's priority, to feed over 4 billion population globally.
Mr. Sooksunt stressed that CPF has upheld the 3-benefit core philosophy that covers Country, People and Company, with strategic directions for corporate social responsibility to sustainability under the “3 pillars: “Food Security”, “Self-Sufficiency Society”, and “Balance of Nature”. CPF has been selected for Dow Jones Sustainability Indices for three consecutive years. CPF has strived to
improve the production process to satisfy increasing demand in line with global population numbers. (Global population is expected to reach 10 billion in 2050). Meanwhile, urbanization spurs demand for convenient and hygienic products, opening a growth opportunity for CPF.
In this regards, technology advancement allows the offering of more products via E-commerce and enables the adoption in automation and robotics in the production lines and precise analytics through Big Data, leading to greater production efficiency and effectiveness. This helps CPF adapt to the fast-changing world, develop personnel, apply modern technology and pushes for more research and development, which altogether will enhance the company's competitiveness and affirm its world-class position.
