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EN_Tipco_Annual Report 2014

TIPCO FOODS PUBLIC COMPANY LIMITED PAGE 010/ 011 MESSAGE FROM THE CHAIRMAN 2014 was a very challenging year as both domestic and global purchasing power remained depressed. With political unrest carried over from 2013 well into 2014, Thailand economy was impacted significantly. As a result, the country’s GDP declined to 1.7%. Despite unfavorable economic climate home and abroad, the Company was still able to achieve positive sales growth in the domestic market. The cannery business faced major challenge in 2014 as the supply of pineap-ple was scarce while price sky rocketed to all time high of almost Baht 10 per kg. Due to the depressed global economy, the Company was not able to pass through the rising raw material cost. The combination of rising production cost and depressed demand represented a very big challenge for us. In order to soften the impact of the export business, the Company decided to focus its research and development to explore new package type which will enable us to enter new market segment. In addition, new production technology was introduced to increase efficiency and lower production cost. Lastly, the Company implemented new pineapple contract farming strategy with focus on sustainability and assurance in steady and regular supply. We believe the above mentioned actions would enhance our long term profitability and im-prove our competitiveness. In spite of the lackluster growth in the ready-to-drink market in 2014, the Company actively fortified its leading position in target sectors. We success-fully executed a fully-integrated marketing communication program to pro-mote health awareness which effectively increased our market share. Suc-cess in South Korea is a great model where the Company could replicate as a road map to enter other Asian market. On behalf of the board of directors, I would like to commend all executives and our employees for their dedication and hard work throughout a very dif-ficult 2014. In addition, I would like to thank our business partners, financial institutions, and customers for continued trust in our organization. With this continuing support, I truly believe the Company will continue to attain its goals and firmly move forward. With the Company new strategic focus in 3 business platforms, namely agro-industry, consumer, and service business, we are confident that we are entering 2015 with a solid and sustainable plan to succeed. (Laksana Supsakorn) Chairman of the Board of Directors


EN_Tipco_Annual Report 2014
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