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Singapore-listed health supplement Cerebos Pacific (CERE.SI) said on Friday it is aiming for a 10-20% revenue growth over the next three years as it steps up its presence in China, Indonesia and Vietnam.
Cerebos’ chief executive Eiji Koike told Reuters in an interview that he expected the loss-making operation in China to break even by 2012 and that the company plans to expand its presence to another 10-20 cities in the coming years.
Koike said “ageing population in Japan. One-child policy in China, and growing population and middle class in Indonesia,” will support growth in the food supplement business.
Cerebos recorded a better-than-expected 22% rise in its first quarter net profit for the three month ended December as its revenue climbed 24%.
“We are planning to expand the China business to 10 to 20 new cities, there are a lot of requests for us to open our business in new cities but we need to prioritise containing losses in existing cities,” Koike said.
Koike said he has advised the firm’s parent company, Suntory, which holds an 83% stake in Cerebos, to increase the company’s free float, but no decision has been made so far.
