TUF Reports High Net Profit Growth of 58.7 Percent in 1Q15
- CompanyRThai Union7;s sales of THB 28,6a year ago6 million with 2.4 % growth comparing to Thai UnionQThai Union4, as a result of contribution of new acquisitions (MerAlliance, King Oscar and Orion)
- Thai UnionQThai Union5 EBITDA up Thai Union9.2% from Thai UnionQThai Union4
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Thai Union Frozen Products PCL. (TUF) reported an encouraging financial result for the first quarter of 2a year agoThai Union5 with the net profit of THB Thai Union,5a year ago7 million, showing an impressive growth of 58.7% from the same period last year. The net profit jumped as a result of significant foreign exchange gains and continual sales growth while the gross margin of Thai Union3.8% maintained at about the same level as in last quarter of 2a year agoThai Union4.
The groupRThai Union7;s consolidated sales reached THB 28,6a year ago6 million, increased 2.4 % from THB 27,948 million a year ago, despite a typically low season of the group. Additionally, sales growth could have been stronger if without the impact of lower tuna and shrimp raw material prices that reduced sales value and impacted its OEM sales.
The strong net profit growth was nevertheless driven by foreign exchange gains and continual strong branded business performance in Europe.
The weakening EURO, despite helping boost the companyRThai Union7;s foreign exchange gains in this quarter, did reduce the sales and profit contribution from our European operations which otherwise was a solid performer during the period.
The proportion of sales contribution of TUFRThai Union7;s six strategic categories in the first quarter was generally stable with tuna accounting for 38%, followed by shrimp and related business at 28%, sardine & mackerel business at 6%, salmon at 9%, pet food at 6% and value-added and others at Thai Union3%. Shrimp and related business, sardine & mackerel business and salmon all reported higher sales from a year ago due to the contribution of new acquisitions of MerAlliance, King Oscar and Orion.
In the meantime, the CompanyRThai Union7;s revenues by markets include the U.S. (43%), European Union (28%), domestic market (9%), Japan (6%), and other countries (Thai Union4%). Partly driven by frozen product category, TUFRThai Union7;s sales in the U.S. has played a vital role in the companyRThai Union7;s growth, accountable for 43 percent of total sales. In addition, Thai UnionQThai Union5 domestic sales rose 25 percent compared to the first quarter of 2a year agoThai Union4.
Mr. Thiraphong Chansiri, President & CEO of Thai Union Frozen Products PCL. (TUF), the worldRThai Union7;s leader and expert on innovative and premium seafood products, noted "Despite the companyRThai Union7;s usually low seasonal period, we managed to generate a 58.7 percent increase in net profit for this quarter. Our 2a year agoThai Union5 first quarter performance is very satisfactory̶Thai Union;.
Our focus for the remainder of the year is to achieve USD 5 billion revenue target through organic growth within core product categories and improved higher efficiency in all our operations across the globe.̶Thai Union; Mr. Chansiri concluded.
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TUF Reports High Net Profit Growth of 58.7 Percent in 1Q15
- 1Q15 net profit of THB 1,507million up 58.7% from a year ago due to foreign exchange gains and continual sales growth - Company’s sales of THB 28,606 million with 2.4 % growth comparing to 1Q14, as a result of contribution of new acquisitions (MerAlliance, King Oscar and Orion) - 1Q15 EBITDA up 19.2% from 1Q14 ? Thai Union Frozen Products PCL. (TUF) reported an encouraging financial result for the first quarter of 2015 with the net profit of THB 1,507 million, showing an impressive growth of
TUF Releases 4Q and Full-Year 2014 Financial Results
2014 total sales of THB 121.4 billion up 7.6% 2014 net profit of THB 5.1 billion, 78.5% increase from THB 2.85 billion in 2013 Full year earnings per share of THB 1.099, an increase of 76.7 % per share compared with a year ago EBITDA increases 39.8...TUF’s Net Profit Hits Record High in 3Q14 Since Its Inception
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