TFG’s 2Q Profit Slips 17% due to Lower Revenue from Poultry, Offering Dividend at ฿0.03

Thaifoods Group Public Company Limited (TFG) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

TFG recorded a net profit for the second quarter of 2020 of 430.90 million baht, representing a decrease of 16.89% from the net profit 518.50 million baht in the same period of 2019. The total revenues for the second quarter of 2020 was 7,271.48 million baht, decreased by 0.26% from 7,290.24 million baht in the same period last year due mainly to decreased revenues in poultry.

 

The revenue from poultry business for the second quarter of 2020 was 3,804.60 million baht, decreased by 6.39% YoY. The sales volume of chicken sold in 2Q decreased by 0.86% YoY, mainly decreasing domestic sale price and sale volume of chicken sold in the market.

 

For swine business, the revenue was 2,050.77 million baht in 2Q, decreased by 1.47% YoY. The sales volume of swine sold increased by 7.95% YoY, mainly due to domestic swine price decrease while production and domestic sale increased. The revenue from animal feed business was 1,317.47 million baht, increased by 22.28% YoY. 

 

In addition, the Board of Directors approved a dividend payment for operating period from 01-Jan-2020 to 30-Jun-2020 of ฿0.03/share to be paid on September 9, 2020. The ex-dividend date is August 25, 2020.