XO Jumps 3%, Targeting 25% Growth in 2021 Profit on Strong Demand for Sauces

XO has the confidence that the performance in 2021 will new high which set a revenue growth target of 10-15%, pushing profits up 20-25%YoY, receiving strong demand for sauces and also ready to lay down investment budget of 10-15 million baht for the Listing fee to expand sales area of high margin products, especially in Europe and China.

 

Mr. Jittiporn Jantarach, Managing Director of Exotic Food Public Company Limited (XO), revealed that even though the ongoing Covid-19 pandemic globally has caused sales volume rise, the overall success of 2020 performance was mainly driven by a growing demand for sauces, expecting growth to continue to do well next year with a new high projection. Affirming the 2020 revenue to grow 25.-30% as targeted.      

 

XO targeted 2021 revenue to grow 10-15%YoY which would drive net profit up 20-25%. Meanwhile, 4Q20 performance is expected to improve compared to a year earlier, but seeing a slow down compared to 3Q20. Outlining the cargo ship shortage temporality which caused shipping delay usually occurs and has no significant impact on the Company’s operation, expecting to be relaxed in the next 2 months. 

 

The share price of XO in the morning session closed at ฿9.20/share, increased ฿0.25/share or 2.79% with a trading value of 9.79 million baht.