The prediction is part of its latest trading update, which saw the business record a sales revenue of Thai Baht (THB) 541.937m for 2018 and THB15.531m in net profits.
CPF revealed that 67% of its sales revenue was driven by its overseas businesses after the expansion of its aquatic and non-aquatic businesses.
Changing consumer behaviours and the outbreak of Early Mortality Syndrome (EMS) motivated the business to expand its aquatic production bases. CPF’s aquatic businesses are currently located in eight countries, such as Thailand, China, Vietnam, India, Malaysia, the Philippines, Brazil and the US.
In 2018, the aquatic business generated THB74.513m in sales revenue. CPF said it believed the business’ sales revenue was expected to rise by more than 15% in 2019, while net profits were also expected to increase, particularly for its Thailand operations.
Meanwhile, in terms of consumer behaviour, the business said it focused on research and development on food products that satisfied the demands of consumers in various countries. This included improving raw materials throughout the production chain and environmental-friendly packaging.
As part of these strategies, the business also announced that it had collaborated with Taiwan-based HiLai Group to open a seafood buffet restaurant called Harbour at the shopping centre complex Iconsiam in Bangkok.
Overseas sales also majorly contributed towards CPF’s overall sales in its second quarter update for 2018.