Thai producer expects sales to grow on promotional campaigns and exports.
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Part of the PTT range Image: PTT |
Thailand's PTT PLC expects to see sales climb as much as 20% in 2016 on the back of aggressive marketing campaigns and exports across new markets. The state-owned company has also set aside 100m BHT ($2.8m) for research and development for new product lines.
PTT predicts lubricants sales volumes will grow to almost 200m litres this year, a significant increase on 170m litres in 2015. This in turn will lead to a 20% increase in revenues from 10bn BHT ($286m) last year to 12bn BHT ($343m) in 2016.
The pan-Asian producer is expecting significant growth to come from emerging markets close to home, such as Cambodia, Laos, Myanmar and Vietnam, which together already represent some 60% of the firm's international revenues. It is also looking further afield to Africa for growth.
The ambitious producer is forecasting lubricants sales to more than quadruple to over 300m litres per year by 2020, bringing in revenues of 50bn BHT ($1.4bn).