Charoen Pokphand Foods: Not Affected by Avian Flu Outbreak in China, Mexico

Charoen Pokphand Foods PCL (CPF.TH), a Thai listed agricultural conglomerate, said Thursday that its operations aren't affected by the latest avian flu outbreak in China and Mexico.

The company's key business in China is feed mill, not livestock or chicken farms, it said in a statement to the Stock Exchange of Thailand.

Charoen Pokphand is maintaining its average annual revenue growth target at 10%-15% over the next five years, with an aim to push annual sales to THB600 billion ($19.04 billion) in that timeframe, the statement said.

The company had said in April that it expects revenue this year to exceed THB300 billion, up sharply from THB206 billion in 2011, thanks to recent business expansion into China and Vietnam.

The Thai also firm expects domestic meat prices to improve in the second half of this year, after persistent declines since the last quarter of last year, due to improving purchasing power of local consumers.

Write to Phisanu Phromchanya at phisanu.phromchanya@dowjones.com

Copyright ? 2012 Dow Jones Newswires

Source: http://feeds.foxbusiness.com/~r/foxbusiness/latest/~3/TmLM2HLmekQ/

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