Susco Plc, the SET-listed oil retailer and wholesaler, is maintaining its sales growth target next year of 8% to 27 billion baht despite plunging global oil prices.
Susco sees rising demand and exports alongside its growing number of petrol stations as reasons for maintaining its sales growth target.
Managing director Chairit Simaroj said the target remained unchanged because the growth in demand could offset the fall in the retail oil prices.
It expects this year's sales revenue to increase 8.7% to 25 billion baht, up from 23 billion last year.
Since the start of the third quarter this year, the global crude price has dropped from the average of US$105 per barrel to $65-66 yesterday.
He said oil prices next year may stay at the same level of $60-70.
Crude price yesterday stood at between $67-69 per barrel.
Even though the global crude price is expected to decline in the years to come, Mr Chairit said Susco was also maintaining its 30-billion-baht revenue target in 2017 under its three-year business plan.
"We are still confident about the growth of demand, export sales and the expanding number of our petrol stations," said Mr Chairit.
He said declining sales value may be offset by growing demand in the domestic market and exports to neighbouring countries at 8%.
The company has earmarked a budget of 200 million baht to modernise the design and services of its 235 oil pumps nationwide during 2015-2016.
In 2017, it plans to expand the number of service stations by 15 to 250 at a cost of 20-30 million baht per station.
To maximise the benefits of the government's recent reform of energy prices, next year it will increase the number of green fuel dispensers at its stations, which will face higher demand as a result of the government's policy.
It will also adjust its business direction along with the new policy of the Energy Ministry which will eliminate less used types of fuel from the retail market as currently only two or three types are used by a high number of motorists.
SUSCO shares closed yesterday on the SET at 4.24 baht, down 10 satang, in trade worth 216 million baht.