Ichitan eyes strong revenue growth as exports continue to expand
Ichitan Group is targeting sales of Bt6.7 billion this year, the listed company said in a statement on Tuesday.
If achieved, this would be some 17.8 per cent higher than last year’s level.
President Tan Passakornnatee said the tea-maker’s export sales would grow significantly in 2018 as there were already substantial pre-orders from the CLMV area, comprising Cambodia, Laos, Myanmar and Vietnam.
Ichitan expects overseas revenue to increase to 27 per cent of overall targeted sales by the year’s end.
Meanwhile, the domestic beverage market is showing an improving trend, Tan said.
It is not only Ichitan’s strategy to penetrate all customer categories, but also to focus on expanding sales channels in both domestic and export markets, he added.
Last year, Ichitan generated a net profit of Bt315 million and revenue of Bt5.688 billion, due to the growth of exports.
The domestic tea market shrank, while the cost of goods sold rose due to stiff competition, the statement said
