RBF Expects Growth to Continue in 2021, Advancing to Penetrate Int’l Market as Planned

RBF stated that an increase in orders and exports will support its 2021 sales revenue to grow 10-12%, while proceeding to penetrate international markets to increase the revenue contribution from overseas to 20-25% within 3-5 years.

 

Ms. Janjida Ratanapoomponyo, Director of R&B Food Supply Public Company Limited (RBF), stated that despite the coronavirus outbreak impacting the economic outlook and consumer’s buying pressure in Thailand, the company is confident its revenue growth this year will be higher than 2020.

The growth in 2021 will be boosted by a constant increase in exports, especially to ASEAN countries, due to being the main Kitchen of the World. The company also received more orders from its customers, while the company introduced more new products as well in preparation to penetrate domestic and international markets. More importantly, the company expected buying pressure to increase this year due to being held back from spendings in the previous year.

As for the operating plan in 2021, RBF proceeds to expand the market and increase its customer’s base, while advancing to develop and produce new products, especially healthcare products, which are the trend nowadays, leading to more orders for the company. Furthermore, the company will also focus on animal feeds for this year’s strategic plan, which is a high-growth business due to the higher number of pet owners.

The company planned to expand its international market by investing in food coating and flavour business in Indonesia with an investment value of 200-250 million baht. RBF expected its penetration in the international market will boost the revenue contribution from overseas to 20-25% within the next 3-5 years.