Thai CP Foods sees 2008 sales to rise 10 pct

BANGKOK, Dec 27 (Reuters) - Charoen Pokphand Foods CPF.BK, Thailand's biggest chicken exporter, expected sales to grow 10 percent next year, slightly above analyst forecasts, on improving domestic demand, an executive said.

"Our sales should definitely rise 10 percent," chief executive Adirek Sripratak told reporters late on Wednesday, referring to 2008 sales.

"The domestic economy and business confidence should improve continuously after the election and the new government," he said of a weekend general election expected to produce a coalition government next month.

CP Foods would continue to boost domestic sales, exports and overseas investment, Adirek said.

Its 2007 sales target was at least 137 billion baht ($4 billion), up at least 10 percent from 125 billion baht last year due to higher product prices, he has said.

Twelve analysts polled by Reuters Estimates forecast 2007 sales of 136 billion baht, up 8.8 percent from last year, and rising 9.6 percent to 149 billion baht next year.

They expected a 0.16 percent in 2007 net profit to 2.1 billion baht, but a 67 percent rise to 3.5 billion baht next year.

CPF reported a consolidated net profit of 1.13 billion baht in the first nine months of 2007.

On Wednesday, CPF shares rose 0.4 percent to 4.48 baht, while the overall stock market .SETI fell 0.25 percent. ($1=33.86 Baht)