Choosy dogs and cats may come small in number for pet owners but they are also helpful to businesses like Asian Sea foods Cold Storage, which is an outstanding stock in Thailand. They can take advantage of seafood buffet in Sukhumvit to celebrate the earnings of the current year.
Increasing sales of premium pet food have triggered a 204% jump in the company’s shares in 2017. It’s likely the most among nearly 600 openly traded equities on the Thailand’s Stock Exchange main board. In 2020, the revenue is expected to reach 14.5-billion baht or $47 millionfrom 9.2-billion baht in 2016. This was revealed by Hendrikus van Westendorp, chief financial officer of the company in an interview.
According to Mr. van Westendorp in his officenear Bangkok, “the pet food business will continue to grow over the years with high profit margin. Many pet owners have accepted to spend on high premium foods.”
Asian Seafoods offer pet food brands including Aixia in Japan, Applaws in the UK, and Rachael Ray Nutrish in the US. It’s tapping business of such products in rich countries, where there is high demand for gourmet food with natural ingredients. It earned a revenue of 4% on the first quarter of 2014, where data came from Asian Seafoods show. They can invite their clients to an interesting dinner with seafood buffet in Sukhumvit, and come with their pets.
Mr. van Westendorp said the company hopes to target:
- Profit margin of around 10% vis-à-vis 8.4% in 2016
- A climb in seafood sales of around 25% to reach 7.5-billion baht
- 4-billion baht of pet food revenues in 2020
Asian Seafoods had an impressive increase in the company’s most recent profit; however, they need to find customers for the pet-food capacity expansion, according to Capital Nomura Securities analyst PloenjaiJirajarus of Bangkok.
Exports consist around 62% of the company’s sales. First quarter income was around 105.8-million baht, up from around 10.8 million baht in 2016. The stocks inflated in weeks after the earnings report last middle of May 2017.
The shares, as registered in 1994, trade at 13.3 times calculated 12-month earnings, in comparison to a five-year average of 11.4 times. Asian Seafoods can call a celebration with seafood buffet in Sukhumvit for the company’s improvement in sales.