February 20, 2009
Charoen Indonesia to maintain sales income level this year
PT Charoen Pokphand Indonesia, which operates in the animal feed industry integrated with poultry farming, expects to earn IDR13 trillion (US$1.1 billion) this year, about the same level as last year's estimated income.
Sales in 2008 were estimated to increase 50 percent from 2007 to IDR13 trillion, company president Thomas Effendy said.
The robust sales performance last year were attributed to a 40-percent surge in feed prices and a 20-percent growth in day-old chicks price, Effendy said.
Effendy also told newspaper Bisnis Indonesia that Charoen Indonesia set higher selling prices to offset an increase in prices of raw materials such as soy.
Good prices of farm commodities have also increased the people's purchasing power, he said.
This year, with prices on the decline, the company expects earnings to increase through large volume sales, according to Effendy.