Thailand: Central Retail plans to invest 100 billion baht by 2026

Thailand’s Central Retail Corporation Pcl (CRC) has said it plans to invest 100 billion baht over the next five years to expand its retail businesses.

Thursday, February 10, 2022 19:11

Thailand: Central Retail plans to invest 100 billion baht by 2026 ảnh 1

Illustrative photo (Source: thainews.prd.go.th)

Bangkok (NNT/VNA) – Thailand’s Central RetailCorporation Pcl (CRC) has said it plans to invest 100 billion baht over thenext five years to expand its retail businesses.

The country’s biggest retailer also said in a statement that itaims to boost revenue growth and market capitalisation by 2.5 times over theperiod.

Chief Executive Yol Phokasub said CRC’s five-year strategy includes expandingits online shopping platforms to bolster its food, fashion and other businesslines.

Yol told a virtual news conference that the bulk of investment will be used forphysical store expansion and upgrades, with the rest for technology.

He added that "Online is not going to kill offline, but will complementeach other."

As part of plans for 2026, CRC is targeting boosting its earnings beforeinterest, taxes and amortization (EBITA) by 3.5 times.

In the nine-months to September 2021, the company booked revenue of 136.8billion baht and EBITA of 12 billion baht for an overall loss of 2.1 billionbaht.

About 72 percent of CRC’s revenue is generated in Thailand and the remainder inVietnam and Italy.

In December, parent company Central Group, owned by the billionaire Chirathivatfamily, acquired luxury British store chain Selfridges with Austrian realestate firm Signa Group in a 5 billion USD deal./.

VNA

#Central Retail Corporation #Thailand #Yol Phokasub #revenue growth #market capitalisation #vietnam news agency #vietnamplus

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