Charoen Pokphand Foods (CPF) said its aquaculture business in Thailand has shown an "impressive improvement" following operational restructuring, helping to lift first half profits in 2020.
"The greater efficiency led to strong growth in profitability," the CEO Prasit Boondoungprasert said.
Among its vast agri-business holdings, CPF is one of the world's largest farmed shrimp producers, and holds a sizable stake in the global aquaculture feed sector.
Among its shrimp farming ambitions are close-to-market recirculating aquaculture systems. CPF announced last month that it is developing what it calls the Aquaculture 5.0 shrimp farm in the United States, enabling shrimp to be cultured "anywhere, anytime of year, with complete biosecurity and zero discharged wastes," according to the company.
Across the group, CP's earnings soared in the first half, rising 45 percent to THB 12.14 billion (€330.2 million/$390.2 million).
The improved numbers come even as Asia struggles to recover from the outbreak of African Swine Fever, which has afflicted the Asian region since it was first discovered in China in August 2018.
Global sales rose 9 percent to TBH 281.9 billion (€7.67 billion/$9 billion), while overseas revenue, from businesses in 16 countries, increased 12 percent.
