(Bloomberg) -- Silicon Craft Technology Pcl, a Thai maker of radio frequency identification tags and labels, expects sales to double over the next four years as outbreaks of diseases in animals boost demand for its tracing products.
Revenue may exceed 600 million baht ($19.3 million) in 2023 from 309 million baht last year, said Chief Executive Officer Manop Thammasirianan. The company is also considering overseas acquisitions and ventures to boost earnings growth, he said.
Silicon Craft earns about two-fifths of its sales from tracing chips used in poultry and livestock, according to Manop. The remaining revenue comes from chips for smart automobile keys and contactless keycards, he said.
“Health concerns have spurred the need for more tools to help track the origin of meat from farms to factories,” Manop said in an interview Tuesday. “This will create vast opportunity for our products.”
In its July 30 trading debut, the company's stock surged by the 200% limit on Thailand's Market for Alternative Investment bourse for small companies. It gained another 51% over the next three days to touch as high as 6.25 baht before dropping to 4.78 baht on Tuesday. Thai financial markets were closed for a holiday yesterday.
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