The aspiring coconut leader, Thai Coconut PCL (SET: COCOCO)’s CEO expected the company to achieve 30% YoY revenue growth, mainly from China’s orders and the expansion of its production, according to its plan.
COCOCO is Thailand’s leading exporters of coconut products, which includes canned and pasteurized coconut milk and juice, snacks and instant food, under the brand ‘Thaicoco’ and ‘Cocoburi’.
COCOCO planned to invest the proceeds of THB 600 million IPO fund for expanding its production and new machinery at Ratchaburi in Mid-September for 330 ml boxed juice and expand to 218,000 tons next year, from currently 110,000 tons a year. COCOCO also planned to increase its product diversity to include ice cream, pet snacks and health products that have been R&D together with its customers.
COCOCO received the order from 90 countries around the globe, reinforcing the company’s positive outlooks as the increasing revenue will expand working capital and decrease its debt from both institutional and retail, according to its IPO plan.