GFPT
GFPT (SET: GFPT) is the Thai-listed pure-play vertically-integrated poultry exporter. FY2024 sales THB 19.31B (+1.77% YoY), gross profit THB 2.67B (+22.4%), net profit THB 1.97B (+43.4%). The 49%-owned GFPT Nichirei (GFN) JV with Nichirei Foods (51%) processes ~100,000 birds per day in Chonburi for the Japan cooked-chicken corridor. Equity-method profit from associates and JVs reached THB 834.5M in 2024 (+56% YoY).
Snapshot
Headline numbers a buyer checks first.
FY2024 revenue
THB 19.31B
FY2024
FY2024 net profit
THB 1.97B (+43.4% YoY)
FY2024
JV structure
49% GFPT Nichirei (GFN) — ~100,000 birds/day, Chonburi
Ongoing
Listing
SET: GFPT
Thai-listed
Profile overview
GFPT (SET: GFPT) is the Thai-listed pure-play vertically-integrated poultry exporter. FY2024 sales THB 19.31B (+1.77% YoY), gross profit THB 2.67B (+22.4%), net profit THB 1.97B (+43.4%). The 49%-owned GFPT Nichirei (GFN) JV with Nichirei Foods (51%) processes ~100,000 birds per day in Chonburi for the Japan cooked-chicken corridor. Equity-method profit from associates and JVs reached THB 834.5M in 2024 (+56% YoY).
Strategic position
Japan cooked-chicken corridor anchor
The GFPT Nichirei (GFN) JV processes cooked, frozen chicken products primarily for the Japanese market, where Nichirei Foods distributes. This corridor is GFPT's highest-margin export — less commodity-exposed than raw chilled exports.
Vertically integrated, pure-play
GFPT controls its supply chain from breeder, hatchery, feed mill, growing farms, processing, to frozen-food production. This integration is narrower than CPF but gives GFPT more control over input costs and traceability claims.
JV profit as earnings magnifier
Equity-method income from GFN and other associates contributed $24.2M in FY2024, or ~42% of consolidated net profit — making JV performance a key earnings driver, not just the consolidated book.
Export-market concentration
Japan represents a large share of GFPT's cooked-chicken exports; yen-THB exchange rate and Japanese food-safety/residue requirements are structural risk factors for this corridor.
Thai listed poultry operators — scale and structure
Charoen Pokphand Foods (CPF)
| Company | Ticker | FY2024 revenue | Model |
|---|---|---|---|
| Charoen Pokphand Foods (CPF) | SET:CPF | ~ $17.1B | Integrated agri-food; poultry, shrimp, swine; 17 countries |
| Betagro | SET:BTG | ~ $2.32B | Integrated poultry, swine; domestic retail, export |
| GFPT | SET:GFPT | ~ $550.7M | Pure-play poultry; Japan JV (GFN) cooked-chicken focus |
Where this profile is featured
Reports that reference this entity in their operator concentration or analysis.
Featured in
Thailand CPF: Poultry Cycle and 2026 Recovery Trade
Thai poultry-pure-play peer; 50/50 GFN JV with Nichirei (Japan); poultry-cycle reads alongside CPF
Featured in
Thai Fishmeal Byproduct and the Aquafeed Cycle Anchor
Integrated poultry and aquaculture processor; aquafeed subsidiary uses domestic fishmeal byproduct; competing demand signal alongside CPF and TFM in the Thai aquafeed market.
Featured in
Betagro: Integrated Poultry at Mid-Scale Against CPF
Pure-play Thai vertically-integrated poultry exporter; FY2024 revenue $559.7M; ~6% of Thai chicken output.
Featured in
GFPT: Pure-Play Thai Poultry Cycle and the Japan JV
Pure-play Thai vertically-integrated poultry exporter; FY2024 revenue $559.7M; ~6% of Thai chicken output.
Related Market profiles
Peers, parents, partners, agencies, and other Livestock & Animal Feed actors.
Competitor
Charoen Pokphand Foods
Competes in Thai poultry export market against CPF; broader at scale.
Open Market profile →
Sector peer
Betagro (BTG)
Thai-listed mid-scale integrated agro-industrial group (SET: BTG); chicken, pork, animal feed.
Open Market profile →
Sector peer
Charoen Pokphand Group (CP Group)
Thailand's largest family-owned conglomerate; anchors agro-industrial, retail, telecom, and property businesses across 20-plus countries.
Open Market profile →
Sector peer
CP Group (Chearavanont family)
Thailand's largest family-owned conglomerate controlled by the Chearavanont family; spans agro-industry, retail, telecom, and property across 20-plus countries.
Open Market profile →
Reports featuring this profile
Thailand Halal Economy and OIC Market Access 2027 Market Intelligence
Listed integrated halal poultry, processing; Japan, EU, GCC export
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Sits alongside 6 other Atlas profilesThailand Food Processing Technology Equipment Market Intelligence
Integrated poultry processor; Marel, Stork deboning, Japan-spec line modernisation
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Sits alongside 5 other Atlas profilesThailand Animal Nutrition & Feed Technology Market Intelligence
Integrated poultry chain, captive feed mill
Open report →
Sits alongside 7 other Atlas profilesThailand CPF: Poultry Cycle and 2026 Recovery Trade
Thai poultry-pure-play peer; 50/50 GFN JV with Nichirei (Japan); poultry-cycle reads alongside CPF
Open report →
Sits alongside 4 other Atlas profilesThai Fishmeal Byproduct and the Aquafeed Cycle Anchor
Integrated poultry and aquaculture processor; aquafeed subsidiary uses domestic fishmeal byproduct; competing demand signal alongside CPF and TFM in the Thai aquafeed market.
Open report →
Sits alongside 3 other Atlas profilesBetagro: Integrated Poultry at Mid-Scale Against CPF
Pure-play Thai vertically-integrated poultry exporter; FY2024 revenue THB 19.31B; ~6% of Thai chicken output.
Open report →
Sits alongside 4 other Atlas profilesGFPT: Pure-Play Thai Poultry Cycle and the Japan JV
Pure-play Thai vertically-integrated poultry exporter; FY2024 revenue THB 19.31B; ~6% of Thai chicken output.
Open report →
Sits alongside 4 other Atlas profiles