C.P. Foods’ Financial Report for Q2 and H1 2025: A Closer Look
A glance at C.P. Foods’ global operations
C.P. Foods (CPF), the parent company of C.P. Vietnam, has released its financial results for the second quarter and first half of 2025. In the first six months of the year, CPF recorded a global revenue of 291.8 billion baht (approximately 8.99 billion USD), with Thailand, Vietnam, and China being the top three markets, contributing 64% of the total revenue.
In Vietnam, CPF’s revenue for the second quarter decreased by 21% compared to the same period last year, amounting to 26.2 billion baht (approximately 21.2 trillion VND). Notably, while CPF’s revenue increased in Thailand, China, and other markets, the decline in Vietnam alone led to a 1% decrease in the company’s overall results.
For the first half of 2025, CPF’s revenue in Vietnam dropped by 15% year-on-year to 53.8 billion baht (approximately 43.6 trillion VND). CPF did not provide details on factors such as exchange rates (the Vietnamese dong depreciated against the baht during this period) and the company’s increased ownership in C.P. Vietnam to 100% (after acquiring Itochu’s shares in April) that may have impacted these results.
The majority of CPF’s revenue in Vietnam came from farming, contributing 36.4 billion baht (approximately 29.5 trillion VND), followed by feed with 13.1 billion baht (approximately 10.6 trillion VND), and food with 4.2 billion baht (approximately 3.4 trillion VND). Despite the overall decline, CPF’s food revenue saw a 1% increase compared to the previous year.
C.P. Foods’ global revenue breakdown
Towards the end of May and early June, Vietnam’s meat market was closely watching the developments surrounding Mr. Lieu Quy Ngan’s posts on social media, which included images of sick pigs. In response, C.P. Vietnam stated that the photos were taken in the post-mortem animal inspection area of a contracted slaughterhouse. However, they assured that the batch of pigs showing abnormal signs was discarded and never entered the market.
Subsequently, the Ministry of Agriculture and Environment sent an official letter to the Ministry of Public Security, requesting an investigation and handling of the information spread on social media regarding the allegations against C.P. Vietnam for selling sick pig meat.
C.P. Vietnam’s response to the allegations
Following the incident, the Inspection Division of the Sóc Trăng Department of Agriculture and Environment issued a fine of over 100 million VND to three CP Fresh Shops, owned by C.P. Vietnam, for operating with expired certificates for food safety conditions.
In July, C.P. Vietnam officially announced that it had not violated any food safety regulations in providing pork and chicken in Sóc Trăng province, as concluded by the investigation conducted by the Sóc Trăng Provincial Police. According to C.P. Vietnam, this outcome is a testament to their commitment to compliance and product quality throughout their production and business operations.
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