The SET-listed Charoen Pokphand Foods Plc (CPF) looks set to achieve sales growth of 10% this year with 450 billion baht in revenue.
Adirek: Confident in growth this year
The surge will be driven by higher domestic meat prices, more poultry exports to Japan and foreign expansion.
Sales from exports and CPF's businesses abroad account for 66% overall, while domestic sales make up the balance.
Chief executive Adirek Sripratak said 2013's results missed expectations, due largely to the scourge of early mortality syndrome, a shrimp disease, since late 2012.
CPF missed its target of 15% sales growth.
Mr Adirek said rising commodity prices have heightened production costs for animal feed, another drag on earnings.
"We therefore will focus on expansion overseas by extending existing business as well as strengthening marketing efficiency," he said.
Since 2013, CPF has bought stakes in three businesses: a pig farm in Russia (69.7%); Tops Foods, a meat processor in Belgium (80%); and CP-Meiji, a Thai-Japanese venture in dairy products (60%).
The company recently announced plans to invest in BHJ, a leading meat supplier in Sweden, by purchasing a 29% stake.
In all, CPF intends to invest 50 billion baht over the next three years.
Some 60% of the funds will go to improving CPF operations in 12 countries, with the rest used to boost the brand and improve sales channels at home.
Mr Adirek said Japan's resumption of raw chicken meat imports from Thailand since late 2013 should help CPF achieve its sales goals this year.
Japan had slapped a ban on imports after a bird flu outbreak in 2004.
CPF plans to ship 5,000 tonnes of raw chicken to Japan in the first quarter of 2014.
Shares of CPF closed yesterday on the SET unchanged at 27.25 baht in trade worth 396 million baht.