Ms. Pattara Tasjun, CFO of Thai Coconut Public Company Limited (SET: COCOCO), shared with Kaohoon that the company’s overall performance in 2024 is looking positive. The company is confident that its sales revenue will grow compared to 2023, which saw a revenue of 4,679.74 million baht and a net profit of 540.16 million baht.
Although the overall performance in Q4/2024 is expected to slow seasonally, COCOCO continues to see strong order demand from both the coconut and high-growth pet food businesses. The company also attended trade shows abroad throughout Q4/2024.
Recently, the company increased its 2025 revenue target to 10 billion baht, up from the previous forecast of 8.5 billion baht. This boost is attributed to expansion into new markets and the launch of new products, including coconut water for athletes, Thai tea, green tea, and carbonated coconut mixed with fruit juice. Additionally, the company has secured new customers in the US and Australia.
COCOCO plans to expand its presence from 26 to 30 countries, with over 600 stores in Thailand and a strong online presence. With 70% of the target already secured, the company is confident in its growth, risk reduction, and improved cost and expense management. Strong performance is expected to begin in Q1/2025.
Yuanta Securities (Thailand) Company Limited maintains its “buy” recommendation for COCOCO, raising the price target to 15.50 baht per share.
