Tuesday, October 15, 2019

Siam Kubota targets high as govt promotes agricultural equipment

Aug 28. 2019
File Photo by Siam Kubota Corporation Co Ltd
File Photo by Siam Kubota Corporation Co Ltd
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By The Nation

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Siam Kubota Corporation Co Ltd, a manufacturer of tractors and agriculture equipment, is aiming to achieve Bt100 billion in revenue over the next five years now that it has recorded total revenue of Bt27 billion in the first half of this year, or up 9 per cent from the same period last year, the company’s president Hiroto Kimura said on August 27. 

Up to Bt17-billion of its total revenue in the first half of this year came from the domestic market, while the remainder came from exports, he said, adding that the company is confident it will achieve Bt60 billion in revenue by the end of the year or up 12 per cent from 2018. 

“Our total sales rose in the first half thanks to the government’s policy to promote the use of agricultural equipment to replace labour as the price of some agricultural products have risen, which is improving the farmers’ purchasing power,” he said. 

Kimura added that the company believes its total review will grow more than 10 per cent a year until 2023, helping it earn total revenues worth Bt100 billion during that period.

Siam Kubota has also set aside an investment budget of Bt100 million and Bt200 million a year until 2023 to boost its sales to achieve the target, he said.

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