August 15, 2019
Thai Union Group profits lifted in Q2 2019, thanks to a stronger year-on-year performance in frozen seafood, PetCare, and value-added products. While sales were down 4.6% to USD 1.04 billion, gross profit was up 13.1% to USD 0.17 billion. This resulted in stronger earnings before interest, tax, depreciation, and amortization. Consolidated sales fell due to Thai baht appreciation, depreciation of EU currencies, and lower raw material prices. However, organic sales continued to grow, particularly in the frozen seafood and PetCare businesses supported by Thai Union’s strategy to pursue more value-added products.