Food and health supplements manufacturer Cerebos Pacific Ltd has revealed that its “big focus is China” for the 2001 financial year, to 30 September 2002.
Cerebos operates in Taiwan and Hong Kong, but Thailand is currently the largest market for the Singapore-listed company, accounting for 40% of sales. Revenue has fallen however in recent months as an economic slowdown hit the Asian economy, according to regional marketing manager Akihiro Mishima.
As consumer spending slackens, Cerebos’ revenues are under threat as its health supplement products are often considered a luxury. Half of its sales are from its flagship Brand’s Essence Of Chicken, and the company has been working to get scientific backing for the product’s health benefits in a bid to expand beyond the Asian markets.
China currently accounts for just 3% of sales and the company operates primarily in the Guangzhou district, but sales continue to fall due to the recession elsewhere, Cerebos will step up marketing efforts in China and expand distribution to Beijing and greater Shanghai.