CP Group’s Charoen Pokphand Foods Plc (CPF), Thailand’s leading agro-industrial conglomerate, expects both sales and net profit to grow by 100% after the company penetrated into to the Turkey and Russia markets.

The company said production costs have been imminently lowered this year, helped by much cheaper poultry foods prices, while agro-products prices climbed significantly comparing to a year ago, especially pork and egg.

The exporter of frozen chicken noted that livestock output remains stable for this year while the market demand expanded globally.

CPF is expected to announce dividends of 0.14 baht per share for the first half of the year, according to the company dividend policy, or up 0.045 baht a share from a year earlier.

Shares of CPF are traded at 4.76 baht on Monday; still 1.63 baht a share bellow its book value of 6.39 baht.

United Securities Plc forecasted that CPF will report a gross profit of between 1.3 and 1.4 billion baht for the second half due to higher local market demand and the company’s continuous expansion into new markets around the globe.