Thailand-based Central Food Retail hopes to see sales rise following boost in investment.

(From Thai Press Reports)

Section: Corporate News - Bt100m earmarked for new supermarket outlets, renovations, The Nation reports.

Central Food Retail, the supermarket operations arm of the Central Retail Group, expects a sales increase of as much as 20 per cent by the end of the year after bolstering its investment budget to Bt100 million.

The money will be spent on renovating existing branches and opening new ones, said company president Ian Pye.

Pye said the company would open three branches next month: in Rayong, Sri Racha, and Bang Saen in Chon Buri. It has also slated the renovation of three existing branches - Chidlom, Ratanathibet, and Chiang Mai - for this year's second quarter, and Central World Plaza in Bangkok will get a makeover next year.

Once doors have opened at its three new branches the company will have a total of 61 Tops supermarkets, 12 Market Places, and an outlet known as City Market, by Tops.

"Our renovations and investment will expand our customer target and boost our sales to achieve the growth targeted for this year," said Pye.