Oishi Group raises sales target
The Oishi Group predicts its sales revenues will jump from Bt3.9 billion last year to Bt5 billion this year, on higher use of its production capacity.
The company's Bt5-billion sales-revenue target has been upgraded from an earlier forecast of Bt4.5 billion, president Tan Passakornatee told reporters yesterday.The company estimates its first-quarter revenues and net profit will improve year on year, he said. "Our sales revenues in this year's first quarter will be better, thus improving our net profit. Use [of production capacity] increased to 100 per cent in March, because it's the hot season," he said. In last year's first quarter, Oishi's sales revenues totalled Bt939.42 million for a net profit of Bt26.25 million. The company's Japanese restaurants are expected to contribute higher sales revenues in this year's first quarter than in the same period last year. Its first-quarter green-tea sales rose despite a 15-per-cent drop in the first 15 days of January, due to the New Year's Eve bombs in Bangkok. The company's production capacity is expected to rise 30 per cent this year after adding new machinery. The US accounts for 5 per cent of total revenues, said Tan. He said that increasing the company's stock free-float would be discussed at an April 27 shareholders' meeting, because its free-float is now lower than the Stock Exchange of Thailand's minimum requirement of 15 per cent of paid-up.
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