SCG Packaging Plc (SCGP) is still confident it can manage to earn 100 billion baht this year from domestic and overseas businesses as well as merger and acquisition deals despite growing worries over the prolonged Covid-19 outbreak.
The announcement was made yesterday as it reported revenue worth over 57.1 billion baht it made during the first half of this year, an increase of 24% from 2020.
"As for the industry outlook for the last half of the year, we expect to receive positive impacts from the economic recovery of the US and Europe," said Wichan Jitpukdee, chief executive of SCGP.
The company earlier this year predicted its revenue would reach 100 billion baht.
However, Mr Wichan admitted the pandemic situation in Thailand and other countries is a wild card that may affect sales.
"There remain uncertainties arising from the Covid-19 pandemic impacting the economy, especially in Asean," he said.
SCGP will keep a close watch on the third wave of Covid-19 in Thailand, which flared up in April, causing the government to enforce more drastic lockdown measures to control the contagion's spread.
"If the government can curb the disease transmission, Thailand will only bear a short-term impact," said Mr Wichan.
The company will continue to maintain its growth through projects to boost production capacity.
It will increase production of paper food packaging by 1.6 billion pieces a year in Thailand and Vietnam by the third quarter of this year.
Production of flexible polymer packaging in Thailand is set to be increased by 53 million square metres per year by the fourth quarter of the year.
SCGP is also in the process of closing share acquisition deals with Indonesian firms in the third quarter of this year to expand its paper packaging operations in Indonesia.