Oishi H1 profits surge 51%

       Net profit for Oishi Group in the first half of this year increased 51% year-onyear from 282 million baht to 426 million baht, the highest in five years.
       The company reported total sales of 3.42 billion baht, up 23% from the first half of last year. Of the total revenue,1.55 billion came from the food business and the remaining 1.87 billion came from beverages.
       President Tan Passakornnatee said its net profit increased beyond its average annual growth of 20-30% because it had lower raw material costs after outlet expansion.
       Japanese food has been popular among Thais for several years, and the company hopes to cash in on the craze by offering several Japanese food brands to the market and opening new outlets upcountry.
       "We will open more shabushi outlets upcountry to test the market response,and if we get good feedback, we will open Oishi buffet restaurants," he said.
       Oishi Group operated 97 Japanese restaurant outlets last year, a number that will rise to 109 this year. The additional outlets include Kazokutei, a new Japanese food brand, at Central Pinklao and Seri Centre on Srinakarin Road.
       The company spent 100 million baht on its marketing budget to celebrate its 10th anniversary in the remaining five months of the year.
       Oishi plans to spend 200 million baht to open 20 new outlets next year, bringing the total to 129. Its expansion next year will focus on two new food brands including Maido Ookini, cafeteria-style Japanese food, and Kazokutei.
       The aggressive expansion should help raise the sales proportion of food to 50%, up from 45% now. Sales are expected to grow by 10% to 7.2 billion baht.
       Shares of Oishi closed on the Stock Exchange of Thailand at 40.25 baht, up 75 satang, in trade worth 210,039 baht.