Charoen Pokphand Foods Plc (CPF), the global food conglomerate, expects 2017 revenue to grow by 10% on strong demand abroad.
The company also aims to increase its overseas revenue to 70% of total revenue from 64% at present over the next three years.
CPF operates three businesses covering animal feed production and sales, farm and food businesses, involving semi-cooked and cooked meat as well as retail and food outlets, in 17 countries.
Chief executive of agro-industrial business and co-president Sooksunt Jiumjaiswanglerg said the company targets 500 billion baht in revenue this year, up 10%, aiming to become a "Kitchen of the World" that prioritises high-quality and safe food to feed over 4 billion people globally.
"We will grow overseas and focus on cost control efficiency for our domestic business," said Mr Sooksunt. "In the next three years, our overseas business will contribute 70% of total sales revenue."
At present, CPF's domestic business contributes only 36% of total revenue.
Mr Sooksunt said countries that have high growth potential are the Philippines, with a population of over 100 million, Vietnam, India, Russia and Poland, with the latter enhancing the company's ability to export its products to the European market free of tax.
Excluding China, Vietnam currently boasts the highest performance growth at 13%, with total sales revenue at US$2 billion (65.2 billion baht) a year.
The company is planning to invest in setting up a slaughterhouses for swine and chicken in Vietnam in order to export meat from there, said Mr Sooksunt.
He said the company has set an annual investment budget of 20 billion baht to expand business operations both domestically and internationally.
CPF has followed through with its growth strategy, adopting the integration model in its agribusiness operations.
The company's supply chain encompasses feed production, farming and food processing, allowing quality control and traceability, while addressing the food sustainability issue, said Mr Sooksunt.
This adds credibility to its brands, known globally by consumers, he said.
CPF shares closed yesterday on the Stock Exchange of Thailand at 24.40 baht, up 10 satang, in trade worth 495 million baht.
