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April 28, 2014

 

Indonesia

CP Prima’s Financial Results in 2013

 

In 2013, Central Proteinaprima (CP Prima), the largest shrimp farm in the world, reported strong sales and a net profit, but an operating loss of $69.1 million, compared to an operating profit of $12 million in 2012.

 

In 2013, strong shrimp and feed sales and prices produced revenues of $662 million, up 12.31% over 2012.

 

Feed sales in 2013 were $377.5 million, up 11.19% on 2012.  Farmed shrimp sales were $224.6 million, up 20.27% on 2012.  The company also generated $21.7 million from postlarvae sales and $37 million from “other” sales.  The growth in shrimp sales was driven by a weakening rupiah and strong prices.  The increase in feed sales was primarily attributed to increased prices to compensate for rising material costs.

 

In 2014, CP Prima will concentrate capital expenditures on improvements to production, cold storage and feed production facilities.  The company is also looking to expand feed production capacity in East Java.

 

The target for shrimp production in 2014 is about 25,000 metric tons and, and the target for feed production is about 550,000 metric tons.

 

Source: Undercurrent News.  Editor, Tom Seaman.  CP Prima Bond Restructuring Gain Turn $70m Operating Loss to Profit.  Tom Seaman  (undercurrent@undercurrentnews.com).  April 28, 2014.

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