SET-listed carpet manufacturer TCM Corporation Plc (TCMC) expects 2019 revenue to exceed 10 billion baht as 2018 failed to reach the expected 10 billion.
Pimol Srivikorn, chairman of TCMC, said he expects a 7-10% rise in revenue this year because the company plans to seek more new markets after TCMC suffered from Brexit, as Britain is a major customer.
"We will expand our market presence in the US and China," said Mr Pimol.
"TCMC has a positive outlook on those countries as they are potential markets with high purchasing power. The overall global economy is still very healthy."
He said there are many positive factors in Thailand driving the country's GDP -- the upcoming general election, government megaprojects, new investment flows and new property projects.
The tourism sector is also expected to perform well in 2019.
"TCMC aims to increase sales in every market and open new distribution channels in major countries," said Mr Pimol.
TCMC has three business units -- flooring, living and automotive carpets.
In 2019, the living unit will account for 50% of total revenue, while flooring will represent 35%. Automotive carpets will contribute 15% of TCMC's revenue.
Some 75% of TCMC's revenue in 2019 will come from overseas countries, with 25% the domestic market.
Formerly known as Thailand Carpet Manufacturing, TCMC was established in 1967 by the Srivikorn family as the first carpet manufacturer in Thailand. The company built a factory on 32.8 rai near Don Mueang airport.
TCMC has 15 subsidiaries and three business units that cover Bangkok, Pathum Thani, Ayutthaya, as well as Hong Kong and Britain.
Mr Pimol said TCMC is studying the feasibility of setting up a fourth business unit, which will be concluded in the fourth quarter.
"We plan to acquire companies and assets for the fourth business unit as it will help revenue grow rapidly," he said.
In 2019, TCMC plans to restructure three manufacturing facilities into a single operation for higher efficiency in production and human resources management.
The company will invest in improved machinery to reduce costs and increase production efficiency and capacity, supporting expansion into new markets.
