RBF Affirms to Achieve its 2020 Growth Target of 10-12%, Lightly Affecting by Covid-19

Mr. Somchai Ratanapoompinyo a chief executive office director of R&B Food Supply Public Company Limited (RBF) said that in regard to the coronavirus outbreak, RBF would not be significantly impacted from a covid-19 spreading as vast majority of customers are factories and chain restaurant, combined with an increase of stockpile and delivery food ordering in line with a virus epidemic, benefiting RBF to gain more orders from merchants.

RBF estimated the 2020 revenue will grow 10 – 12% from year 2019 that was recorded an overall income of 2,881.99 million baht as planned. RBF continuous received orders and has heighten production capacity both domestic and overseas to support the improving demands.   

For the bread crumbs factory in Indonesia, RBF has appointed to increase its manufacturing capacity within April 2020, which will generate the output at least 200 tons from 110 – 120 tons.

While the bread crumbs plant in Vietnam is still under the machine testing process, expecting to operate within April 2020 and currently RBF already get an order from Russia. If RBF is able to export a product from Vietnam based factory to Russia, therefore RBF could exempt tax payment of 10% and lessen its cost.          

The establishment of new subsidiary in Japan which cooperate with Eiger Company Limited (RBF holds 60% and EG holds 40%) is negotiating with convenient stores for the future business.  

However, even the Tokyo 2020 Olympic Games delayed till 2021 as a consequence of covid-19, but RBF clarified not effect from the sport event postponement because Olympics was not part of company’s operation plans.    

“We are slightly affected by the covid-19 contagion, even many hotels, restaurants and department stores are closed, but supermarkets still open and some restaurants start to serve a delivery, when the delivery orders increase, it also enhance our orders.” said by Mr. Somchai

“Coupled with the exportation, RBF still exports as normal and no products stockpile, we also expanded manufacturing capacity both domestic and abroads in response to a high demand, so, we would like to affirm all investors that RBF will continue to grow as a plan” he added.