CP Indonesia targets double-digit growth in 2022

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Charoen Pokphand Indonesia expects double-digit growth this year as the country’s economy recovers after Covid. President Director Tjiu Thomas Effendy said it targets a 10% growth for feed, 15% for live birds, and 20% for the food business. The company booked net sales of USD 3.5 billion last year, up 21.6% from the previous year. The cost of goods sold also increased to USD 2.9 billion, while gross profit was slightly corrected to USD 555 million from USD 563 million. Profit attributable to the parent entity, however, decreased by 6% to USD 247 million.

CP Indonesia’s management after the general meeting of shareholders.
Regional Correspondent, Jakarta, Indonesia. Meli covered how automation is revolutionizing the regional poultry industry in the article, ‘When digital poultry technology becomes a necessity’.