SCG Décor (SCGD), a decor surface and bathroom business operator, expects its revenue to grow by 10% year-on-year to 30 billion baht, driven by more sales, including sales of green products, in the Asean market.
It believes its revenue will double within 2030.
"We will expand our business through organic and inorganic growth strategies in Thailand and other Asean countries," said Numpol Malichai, chief executive and managing director of SCGD.
The company will especially increase its sales channels in Thailand, southern Vietnam and Cambodia in a bid to boost sales.
"We will launch two new showrooms in Bangkok and Phuket. In Cambodia and Vietnam, we have also teamed up with local companies to launch new showrooms," said Mr Numpol.
The company will increase sales of high-value added products, notably green products, in the Asean market because they not only attract consumers due to their high quality but also have a high profit margin.
These products will play an important role in boosting SCGD's revenue, said Mr Numpol.
Currently up to 82% of total products under SCG Group are environmen- tally-friendly products.
SCGD has also managed operating costs through energy reduction programmes, which have helped it save 60-70 million baht in costs per year.
This allows the company to better set product prices that can compete with its rivals, said Mr Numpol.
In 2024, SCGD set an investment budget of 1 billion baht, excluding a budget for its merger and partnership plans. The company has already spent 746 million baht of the total.
From January to June this year, SCGD saw its revenue fall by 7% year-on-year to 13.3 billion baht with its profit increasing by 36% year-on-year to 541 million baht due mainly to good sales in Vietnam and sales of high-value added products.
Mr Numpol said the economies of Asean countries such as Vietnam, Indonesia and the Philippines had been healthier than Thailand's during the first half of the year.
Sales in the neighouring countries boosted the company's revenue.
In Thailand, consumer purchasing power was weak amid a high level of household debt and slow economic growth.
People in the middle and upper market segments were cautious about spending on house repairs or new construction projects.
