Thai Union reports record revenue in 2Q22, driven by strong core business performance and global demand

• Published date: 09 August 2022
• Publication title: The Nation - Thailand

In the April-June period, Thai Union reported record high sales of THB 38.9 billion, an increase of 8.5 per cent compared to the same period last year, driven mainly by increased demand and higher selling prices.

The adjusted net profit for the second quarter, without one-time impacts from the THB 424 million change in the fair value of Red Lobster's preferred shares as a result of higher U.S. interest rates, and the THB 195 million in restructuring costs at Rgen Fisch in Germany, is at THB 2.2 billion, down 8.4 per cent, year-on-year.

Thai Union's robust sales performance over the quarter reflects the Group's well-balanced and diversified portfolio across its three main business units. Ambient seafood sales grew 10.7 per cent to THB 16.9 billion thanks to a combination of higher prices, depreciation of the Thai Baht and strong consumer demand.

The frozen and chilled seafood business booked a 6.5 per cent year-on-year decline in sales to THB...