KCG Corporation, the manufacturer, importer and distributor of dairy and bakery products, is targeting at least 10% revenue growth this year.
Damrongchai Vipawatanakul, chief executive and managing director, said the company is optimistic about securing growth from both domestic and international markets.
This year exports should contribute more than 4.5% of overall revenue, including business-to-business partnerships with operators in Japan, South Korea and Taiwan, he said.
The company also aims to increase revenue from domestic distribution, focusing on both consumers and business partners, particularly large companies.
In 2023, KCG recorded a new high in sales revenue of 7.15 billion baht, up 16.2% year-on-year.
The biggest segment, dairy products, which includes the Allowrie butter brand, contributed 4.08 billion baht, some 57% of sales revenue, followed by food and bakery ingredients at 29%, with biscuits such as Imperial cookies accounting for the remainder.
From those earnings, the company posted a profit of 306 million baht.
Over the next three years, the company is seeking mergers and acquisitions as well as joint venture deals that can support its current products, said Mr Damrongchai.
In 2022, KCG acquired Indoguna, which broadened its product portfolio to meat and seafood.
After an initial public offering last year, the company developed KCG Logistics Park, a full distribution centre and stock warehouse covering 15 rai in Samut Prakan.
The first phase is expected to be opened in April, before operating at full scale by the second quarter, he said.
KCG also increased its cheese and butter production capacity to meet rising demand, while pushing for more automation.
Mr Damrongchai said the robust tourism sector helped drive growth in the first quarter as businesses that KCG supplied, such as restaurants and hotels, had solid revenue growth.
Regarding concerns about dairy commodity price inflation, he said the pricing trend passed its peak in 2022.
The company purchased products 4-6 months earlier within a specific time frame to maintain its expenses, and price fluctuation shouldn't affect its operations much, he said.