TU’s Frozen and PetCare Businesses Buoy Its Net Profit to Increase Near 5%

Thai Union Group Public Company Limited (TU) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

TU reported a net profit in 3Q19 at 1,373 million baht, increased 4.82% YoY mostly due to the profitability improvement from frozen and PetCare businesses.

3Q19 frozen and chilled seafood sales volume up 15.2% YoY, driven by shrimp and lobster sales volume growth. PetCare and valued added sales increased 6.3% YoY, on the back of sales volume increase 2.6% over the same period. Pet food business delivered a solid sales growth, driven mainly by sales volume. Value-added products and others segment delivered sales growth partly attributable to the marine ingredient business. Gross margin has improved due to strong sales growth and growing value-added product sales mix.