Thai Coconut Public Company Expects 30% Revenue Growth in 2023
In an interview, Worawat Chinpinkliao, the CEO of Thai Coconut Public Company Limited (COCOCO), announced that the company is expecting a significant revenue growth of 30% this year. This upward trend aligns with the continuous increase in orders for their wide range of products.
Expanding Product Range
COCOCO’s diverse product portfolio includes canned coconut milk, pasteurized coconut milk, coconut water, canned coconut water, pasteurized coconut water, coconut snacks, and ready-to-eat food. The company markets its products under the trusted brands Thaicoco and Cocoburi.
Moreover, COCOCO’s collaborative efforts with China have led to increased demand for their coconut water products. The company also continues to receive consistent orders from various countries across the globe, as their customer base spans 90 countries. Notably, COCOCO supplies North and South America, European countries, Asia-Pacific countries, South Asia, the Middle East, Oceania, and African countries.
Future Expansion Plans
Following a successful fundraising campaign on the Stock Exchange of Thailand (SET), COCOCO is strategically investing in expanding its production capacity for coconut products. The company plans to inject 600 million baht into this venture.
Currently, new machinery has arrived at COCOCO’s factory in Ratchaburi Province, with further expansions scheduled for September 2023. The addition of new machines will boost the production capacity for boxed coconut water to 330 ml. Additional machinery will be gradually introduced, leading to a projected increase in the annual production capacity to 218,000 tonnes by 2024.
Worawat Chinpinkliao, the CEO of COCOCO, expressed his satisfaction with the success of their recent IPO. He detailed the company’s utilization of the raised funds, which include expanding production capacity for coconut water, enhancing storage facilities, diversifying their offerings with snack products for dogs and cats, investing in ice cream production machinery, repaying financial institution loans, and addressing working capital requirements.
Coconut Water’s Popularity and Health Benefits
Worawat Chinpinkliao further emphasized the increasing popularity of coconut water, a clear liquid found inside the coconut fruit. Depending on the coconut variety, it can have a sweet, sour, or fragrant flavor. Coconut water is widely favored in foreign countries as a natural and hygienic energy drink due to its germ-free properties and rich mineral content beneficial for the body.
Worawat Chinpinkliao Mr. CEO of Thai Coconut Public Company Limited (COCOCO) said that the company expects this year’s revenue to grow by 30% from last year, in line with the direction of continuously increasing orders. Covering all products, led by canned coconut milk, pasteurized coconut milk, coconut water, canned coconut water. Pasteurized coconut water, coconut snacks and ready-to-eat food. Under the brands Thaicoco and Cocoburi, along with receiving support from China, especially orders from coconut water products. In addition, other groups of countries Orders are still coming in continuously. COCOCO’s customer base comes from 90 countries around the world. Covers North and South America, European countries, Asia-Pacific countries, South Asia, Middle East, Oceania. and African countries
After raising money on the Stock Exchange of Thailand (SET) this time, the company invested according to the announced IPO plan, such as continuing to expand the production capacity of coconut products (COCOCO) worth 600 million baht. At present, machinery new Arrived at the factory in Ratchaburi Province. In the middle of September 2023, they will come to increase the production capacity of coconut water in a box with a capacity of 330 ml., which the company will gradually introduce additional new machines as planned. This will lead to new production capacity increasing to 218,000 tonnes per annum in 2024 as planned.
“COCOCO is the market leader in processed coconut products for export. Most recently, in mid-September 2023, new machines were brought in and installed for a Test Run, which is in line with the plan for using the money raised as follows: 1. Used to expand the production capacity. Products from coconut (COCOCO) by purchasing machinery and equipment to produce coconut water. Expansion of coconut water production capacity from approximately 110,000 tonnes per annum to 218,000 tonnes per annum, including expansion of the warehouse to support the storage of coconut water products 2. Purchase of machinery and equipment to expand product categories in dog and cat snack products. Purchase of machinery and equipment to expand product categories in ice cream products 4. Repayment of loans from the Company’s financial institutions. and subsidiaries and 5. Used as working capital for the company’s business operations. and subsidiaries,” said Mr. Worawat.
Mr. added Worawat that Coconut water is the clear liquid inside the coconut fruit. They come in sweet, sour, or sweet and fragrant flavors. It depends on the type of coconut. Currently, coconut water is very popular in foreign countries. By using it as a mineral drink (Energy Drink) obtained from nature. Because coconut water has germ-free properties. Rich in various minerals that are beneficial to the body
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