Cirtek sets lower 2014 growth target

Laguna-based Cirtek Holdings Philippines Corp. remains conservative in setting its annual growth target, eyeing only up to 10-percent growth this year from its 10-percent to 12-percent overall performance growth target in 2013.

“Cirtek’s core business is forecast to grow between 8 [percent] [and] 10 percent in 2014,” the company said in a statement. This is lower than the up to 12-percent growth target the firm had set for last year. For 2013, the company forecasted net sales to grow by 25 percent.