Winner cuts growth forecast to 10%
Winner Group Enterprise Plc, an importer and distributor of food products and ingredients, has cut its revenue growth projection this year from 20% to 10% to reflect the market situation in Thailand and overseas.
‘‘We have to admit that our initial projection set earlier this year was an aggressive one, but we expect to grow by at least 10%,’’ said deputy managing director Kanokphan Kriangkraikritsada.
Sales usually peak in the fourth quarter due to increased consumption in the holiday season.
In 2012, Winner earned 1.4 billion baht, up 118.3 million or around 10% from the year before.
Ms Kanokphan said Winner will place more focus on small and medium-sized food operators with high growth potential as well as suppliers of small consumable goods in convenience stores.
It hopes to expand into cosmetics and medicine supplies, she said.
Managing director Jane Wongisariyakul said the company hopes to achieve revenue growth of 15-20% next year and at least 10% annually over the next 3-5 years.
Established in 1983, Winner serves the industrial, food services and retail sectors. Customers include Pop Secret, Nature Valley, Betty Crocker and the operator of Delice Cafe.
Winner is floating its shares to the public through an initial public offering on the Market for Alternative Investment to mobilise funds for expansion.
Some 22% or 88 million of its authorised and outstanding ordinary shares will be offered from tomorrow until Friday at two baht per share. The stock will be listed on Oct 3.
Suvabha Charoenying, managing director of financial adviser Thanachart Securities, said Winner expects a dividend yield of 6-7% annually.
‘‘We have been thinking about this for 10 years, but circumstances such as the Asean Economic Community (AEC), which we expect will lead to more aggressive competition, have expedited the process. Listing now will give us an advantage to expand and get ready for the AEC,’’ Mr Jane said.
Proceeds from the listing will be used to expand Winner’s warehouse on Bang Na-Trat Road in Bangkok, to improve information technology and for expansion, he added.