Improved Frozen Food-Pet Care Sales Push TU’s 1Q Earnings to ฿1.8Bn, Up 77%
TU reported robust 1Q21 net profit growth of 77.4% YoY, at THB 1,803 million. This was thanks to strong core businesses in Frozen and  chilled seafood as well as PetCare and value-added, margin expansion, FX gains, and lower finance costs.
TU reported robust 1Q21 net profit growth of 77.4% YoY, at THB 1,803 million. This was thanks to strong core businesses in Frozen and  chilled seafood as well as PetCare and value-added, margin expansion, FX gains, and lower finance costs.
10 พ.ค. 2564

Thai Union Group Public Company Limited (TU) has reported its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

TU reported robust 1Q21 net profit growth of 77.4% YoY, at THB 1,803 million. This was thanks to strong core businesses in Frozen and chilled seafood as well as PetCare and value-added, margin expansion, FX gains, and lower finance costs.
 
1Q21 sales were stable YoY to THB 31,125 million. This was mainly driven by improved frozen and chilled seafood sales (+10.3%  YoY) and strong PetCare and value-added business sales (+20.8%  YoY). The Ambient business experienced a 13.1% YoY drop in sales in 1Q21. Compared to 1Q19 pre-COVID level, all three core businesses still grew well in 1Q21 at 6.0% growth.
 
1Q21 SG&amp;A to sales ratio was at 11.7%, up from 11.3% in 1Q20. The increase resulted from higher logistic costs estimated at approx. THB 200-250 million during the quarter. Despite higher logistic costs, SG&amp;A expenses increased only 3.6%YoY,  thanks to TU’s effective cost management by lower marketing and advertising, and other selling expenses.