February 28, 2019
Thai Union Group posts record quarterly sales in Q4 2018
Seafood giant Thai Union Group PCL reported record sales of 36 billion baht during the fourth quarter of fiscal year 2018, which is a 3.7% year-on-year rise. The fourth-quarter operating profit rose 55.2% year-on-year to THB1.50 billion, the highest quarterly margin in two years.
The frozen and chilled seafood businesses, as well as PetCare, contributed to the stronger performance with price adjustments and operational improvements.
Despite the fourth-quarter increase, consolidated FY 2018 sales declined 1.2% year-on-year to THB133.28 billion due to the Thai baht's appreciation against the US dollar. Without the foreign currency impact, FY2018 sales would have increased by 0.5% year-on-year, Thai Union said.
FY2018 gross profit was down 2.2 percent year-on-year, due to material prices and foreign exchange rate volatility, mainly during the first quarter.
“The good results from last quarter gives us confidence that 2019 will see a stronger and successful year", said Thiraphong Chansiri, CEO of Thai Union.
North America accounted for 39% of total sales, while Europe contributed 30%. Thailand's domestic market grew to 11% of total sales, and Asia-Pacific, Middle East, Africa and South America contributed 20%.
In 2019, Thai Union targets to achieve 5% increase in organic sales growth and 15% gross profit margin.
The company's global brand portfolio includes market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar and Rügen Fisch, and Thai-leading brands SEALECT, Fisho, Qfresh, Monori, Bellotta and Marvo.