The year 2007 was another year that businesses in the agri and food industry had faced fierce competition worldwide. There were many factors such as the ever-rising production costs particularly raw material and ingredients used in the production of animal feed; the other was the continuous rise in the price of oil. It is imperative that the Company adopts strategies and implements plans to cope with these changes in the playing field. We are addressing all aspects to meet these challenges efficiently and producing effective and positive results.
Though Thai baht currency has been strengthening nonstop against the US dollar since end of 2006, this foreign exchange situation impacted our operations and caused our company performance in 2007 to be lower than projection. Regardless, the Company had implemented strategy of diversifying investments overseas, especially to countries with high economic growth. This had yielded satisfactory results and increased total company sales turnover to THB 134,809 million, an increase of 8% over 2006.
In this twenty-first century and the era of globalization, the Company has demonstrated its readiness to steadfastly meet new challenges and competition with core values in the following areas – continuous development of organization competency, personnel and human resources, corporate governance, corporate social responsibility, sanitation, safety, health and wellness, and work environment of our employees. In addition, our work philosophy is based on customer centric. The growth of our business has to go hand-in-hand with that of our customers. All units of our operations have to be concerned with social aspect and the community for the sustainable growth.
On behalf of the Board of Directors, I thank you our trading partners for the continued support given through the years. I thank you our shareholders for the trust and confidence in the Company and look forward to receiving continued trust and supports in the years to come.