Despite weak consumer purchasing power, SET-listed NSL Foods, a manufacturer and distributor of bakery items, snacks and ready-to-eat meals, remains confident in its growth outlook.
An economic slowdown is occurring globally, hindering consumer confidence and real spending power, said Somchai Asavapiyanond, president of NSL Foods.
"While some consumers still have spending power, they are more cautious with their spending due to the economic environment," said Mr Somchai.
He said the economic slowdown and a decrease in foreign arrivals are affecting sales.
However, food is a necessary item and this sector is more resilient than others, allowing the company to maintain its target growth of 16% year-on-year for this year, said Mr Somchai.
To tackle these challenges, the company aims to increase product awareness among consumers and enhance its market presence by launching new products more frequently, he added.
According to the company, the main exported products are coconut juice and coconut milk.
NSL anticipates exports will account for 5% of total sales this year, up from 1% last year.
Export markets consist of 50% in the US, 15% in European countries and 5-6% in the Middle East.
The company plans to strengthen its presence in the European and Middle Eastern markets.
It invested about 800 million baht in a new factory in Chon Buri, which is expected to be completed by mid-2026. This facility will increase the production of bread-based sandwiches and frozen and retort food.
The production capacity of its bread-based sandwiches will increase from 250,000-300,000 to 700,000 pieces per day, and it has room for further expansion.
Regarding the ongoing tensions between Thailand and Cambodia, the company views any operational impact as modest.