Charoen Pokphand Foods CPF.BK, expects sales to grow 10% in 2008.
Chief executive Adirek Sripratak confidently commented: “Our sales should definitely rise 10% as the domestic economy and business confidence should greatly improve following next month’s elections”
CP Foods will continue to boost domestic sales, exports and overseas investment, he said.
Due to higher product prices, the 2007 sales target was overshot by 10% at 137 billion baht (US$4.5 billion) from 125 billion baht (US$4.1billion) in 2006.
Reuters analysts have forecasted sales of 149 billion baht (US$4.9billion) and a whopping 67% rise in net profit to 3.5 billion baht (US$116million) for the company in the coming year.