TFG’s 3Q Profit Jumps 80% to ฿1.06Bn due to an Increase in Swine-Feed Revenues

Thaifoods Group Public Company Limited (TFG) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

TFG recorded a net profit for the third quarter of 2020 of Baht 1,062.63 million representing a increase of 80.27% from the net profit Baht 589.46 million in the same period of 2019 and total revenue for period was Baht 8,544.21 million, increased by 13.40% YoY, due mainly to revenue increases in swine and feed business.

 

The revenue from poultry business was Baht 4,166.86 million, decreased by 1.80% from Baht 4,243.27 million YoY. The sales volume of chicken sold was 88,840.25 tonnes, decreased by 5.53% YoY, mainly decreasing domestic sale price both domestic and export and sale volume of chicken sold in the domestic market.

 

For swine business, the revenue was Baht 2,726.07 million, increased by 33.96% YoY. The sales volume of swine sold was 27,779.29 tonnes, increased by 4.90% YoY, mainly increasing the sale price and volume of swine in the domestic market.

 

The revenue from animal feed business and other incomes was Baht 1,500.98 million, increased by 23.67% YoY. External sales tonnage volume increased by 23.33% to 109,979.26 tonnes YoY. Moreover, TFG has additional income from the new subsidiary which operates seasonings and beverages; the income was Baht 72.37 million.