GFPT’s 2020 Net Profit Soars 13%, Offering a Dividend of ฿0.2 with an XD on Mar 8

GFPT’s 2020 Net Profit Soars 13%, Offering a Dividend of ฿0.2 with an XD on Mar 8

GFPT Public Company Limited (GFPT) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

The consolidated net profit in 2020 was 1,351.73 million baht, increased 156.28 million baht or 13.07% up from 1,195.45 million baht in 2019. The EPS of 2020 was 1.08 baht per share. The increase in consolidated net profit was primarily driven from higher share of profit from associated companies and insurance compensation from fire accidents. The consolidated net profit margin in 2020 was 9.34% of consolidated revenue, increased from 2019 by 7.09%. 

 

Total revenue from sales were 14,471.02 million baht, decreased by 2,392.72 million baht or 14.19% from 2019 due to COVID-19 pandemic and global economic slowdown. Revenue from the food segment was 6,744.55 million baht, decreased by 1,858.71 million baht or 21.60% YoY as a result of lower export volume of processed chicken products. Revenue from the farm segment was 4,707.56 million baht, declined by 380.97 million baht or 7.49% YoY from lower sale volume of live broiler. Revenue from the feed segment was 3,018.91 million baht ,a decrease of 153.04 million baht or 4.82% YoY. The decrease in revenue of the feed segment resulted from a decrease in sale volume of animal feed, partially offset by an increase in sale volume of fish feed. 

 

For the future growth, GFPT had planned to grow organically by investing in greenfield projects focusing on capacity expansion along the stream of the vertical integrated chicken production. Firstly, broiler farm operation will be expanded to reach capacity of 380,000 birds per day. Secondly, we are constructing the new chicken processing plant with a capacity of 150,000 birds per day as well as its supporting facilities such as water reservoir, water treatment, wastewater treatment, and worker residences. Finally, the further processing plant will be in the next phase of construction to produce cooked products for export with a capacity of 24,000 metric tons per year. 

 

The investment budget for these projects is estimated to be around 1,200-1,500million baht per year. However, this expansion plan can be adjusted depending on changes of future situation.

 

In addition, the Board of Directors have approved a dividend payment from operating results of 2020 at 0.20 baht per share. The dividend will be paid in cash on April 29, 2021 with Ex-dividend date on March 8, 2021.

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