SNP pins hopes on novel strategies to drive sales to B6bn

SNP pins hopes on novel strategies to drive sales to B6bn

SNP chief operating officer Arth Prakhunhungsit said the company still expects its sales to contract by 5% this year from a 20% fall in 2020.

SET-listed S&P Syndicate Plc (SNP), the operator of S&P bakery and restaurant chain, has set its sights on growing its sales by 30% to 6 billion baht next year after its sales dropped for two years in a row due to the Covid-19 pandemic.

Chief operating officer Arth Prakhunhungsit said the company still expects its sales to contract by 5% this year from a 20% fall in 2020.

“With the Covid-19 outbreaks, the overall restaurant chain business in 2021 is tougher than last year and we believe that the business has already reached its lowest level,” he said.

“We hope to turn around our business, particularly dine-in and takeaway business. The food delivery service will be an important weapon to help drive our growth next year,” said Vitoon Sila-on, the company’s chief executive.

Mr Vitoon added that he has learned many lessons in the past two years from the Covid-19 outbreaks, including cost management, factory efficiency adjustment and the way to manage the business amid the continuous changes in the market.

Lessons learned will help enable the company to persist and live with the Covid-19 pandemic in the future, he said.

According to Mr Arth, to resume positive growth next year, the company plans to spend 100 million baht to open 67-72 branches in various models.

Of the total, Delta stores, which are bakery convenience shops with a kitchen, at community malls, hypermarkets and petrol stations, will make up 25, bakery shops 20, Bakery Mart 10-15 and S&P Marketplace stores 12.

Next year’s business will no longer rely mostly on bakery shops and dine-in restaurants but also delivery services to cater to new lifestyle consumers who need more convenience, said Mr Arth.

S&P’s delivery business posted strong growth of 66% year-on-year in the third quarter of this year and rose by 37% in the first nine months of this year.

The company plans to increase the sales proportion of the delivery channel to 15-17% of total sales next year from 11% now.

It also plans to open more S&P Delta stores at petrol stations, shophouses and shopping complexes.

Some 17 S&P Delta shops opened in the first nine months of this year, with the total number expected to reach 31 branches by year-end.

The company will also transform about 10-15 bakery shops to the new Marketplace concept with a larger space.

Mr Vitoon said that the company aims to grow its customer base by revitalising customer experience, revamping bakery product displays and in-store digital media as well as driving food service through food chains and original equipment manufacturer business in addition to expanding its business via hospitals.

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