Charoen Pokphand Foods (Plc) has reported consolidated revenue for Q1, 2016, of 105.5 billion baht, up 10%. Net profit was 3.764 billion baht, up 27% Y-O-Y.

Overseas businesses accounted for 60% of total revenue. Turnover in 13 vibrant markets, including China, Vietnam, India, Russia, and the Philippines, grew 12%.

Domestic and export businesses, currently 40% of revenue, also grew 6%. The growth is attributed to a recovery in meat prices.

Adirek Sripratak, president and CEO, said CPF will maintain long-term growth by organic growth together with mergers and acquisitions and development of value added products.

The company’s board of directors has approved CPP’s plan to invest in Hubei Chia Tai Co Ltd, the largest broiler integration in west-central China.

He expects turnover growth of 10-15% and all around gross margin improvements. Broiler exports to Europe and Japan have grown 17% in Q1.

Opportunities in 2016 include low prices for feed raw ingredients, the rising price of meat, rebounding shrimp production, and handsome profits from overseas investments.

CPF will invest 700 million baht to manufacture ready-to-eat meals for various market segments such as health-conscious consumers, the elderly and infirm as well as new sauces and seasonings.