The Big C Supercenter, which is 36% owned by Groupe Casino, has said it expects mid-single-digit growth in profit and sales during 2010, helped by the opening of new stores and an improving economy.

The chain said it plans to spend at least 2bn baht to open four new outlets next year, after cutting its expenditure to 1.5bn baht this year to fight the recession. The group opened 12 outlets last year, but has opened just one more in 2009, and currently operates 67 stores in Thailand.

Big C also warned that profit this year is likely to be flat at 2.85bn baht ($86m), with sales being flat to up 2%, missing its target of 5-6% growth. It added, “We have started to see higher consumer spending over the past two weeks ... but it's too soon to say it's because of the economic improvement. We are still concerned about higher oil prices, which will affect consumption”.

NamNews - Thursday 19th November 2009

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