Sappe Plc, a maker of healthy drinks, expects revenue growth of 20% next year and 100% in 2017 after ramping up production capacity in the first half of 2015.
The company's revenue is expected to hit 2.5 billion baht this year, a 20% rise from last year, although half-year revenue missed its target due to the economic doldrums caused by the recent political turmoil, chief financial officer Piyajit Ruckariyapong.
Sappe achieved nine-month revenue of 2.22 billion baht, up by 18.7% year-on-year, for a net profit of 339 million, up by 187%.
The company plans to earmark 500-600 million baht in the first half of next year to install new machinery to expand annual production capacity by 30% from the present 100,000 tonnes.
A portion of proceeds from its initial public offering earlier this year will be used to fund the plan.
The company produces 13 beverage brands including Sappe, Mogu Mogu and Pure Coffee.
Ms Piyajit said exports contributed 60% of Sappe's revenue and should continue at that level in the coming few years, as the company was working on raising sales volume in both export and domestic markets.
"Export markets continue to grow, and we'll keep exploring new ones to increase sales volume," she said.
"For the domestic market, competition remains intense."
Ms Piyajit, who will take over as chief executive next February, said the strategy to double revenue was challenging due to the stiff competition in the industry.
"Even though competition makes it tough, we don't want to jump into a price war or spend much on marketing. We'll focus on premium mass customers who like healthy drinks, and we have a mission to focus on organic, sustainable growth," she said.
"However, we're not averse to any opportunities for mergers and acquisitions, especially in the food segment, as this is one we plan to penetrate in the future."
Ms Piyajit said the fourth quarter was typically a low season for the beverage industry due to the cool weather in the dry season, so the company planned to shift to promoting functional power products instead.