TUF Reveals the Group’s Net Profits Growth of 324% in 2Q14
- Driven by best performance from the GroupRThai Union7;s key product categories
- Strong organic growth with a promising improvement quarter over quarter
- Thai UnionHThai Union4 EBITDA increases 73% comparing to the same period last year
- 2QThai Union4 Earnings per Share rises 329 % to THB Thai Union.33
Thai Union Frozen Products PCL. (TUF) released its encouraging financial results for the second quarter of 2a year agoThai Union4 with the net profit of THB Thai Union,522 million showing an impressive growth of 324 percent from a year ago. Whilst the net profit for the first six months was revealed at THB 2,47Thai Unionmillion, up Thai Union39% year-on-year. The net profit jumped mainly due to gross profit margin expansion to Thai Union5.5% from Thai UnionThai Union.7% in Thai UnionHThai Union3, contributed by a recovery of gross profit margin of tuna, frozen shrimp and pet food business.
The groupRThai Union7;s overall strong performance in 2QThai Union4 with sales of THB 3a year ago,258 million or 7.6 percent increase compared to THB 28,Thai UnionThai Union9 million in 2QThai Union3, whilst Thai UnionHThai Union4RThai Union7;s group sales contributed to THB 58,2a year ago7 million, up Thai Uniona year ago.7 percent comparing to the same period last year but in USD term, sales inched up by 2.Thai Union percent.
The second quarter positive earnings are largely driven by several key operating factors such as strong overseas branded tuna business where sales increased by Thai Union8.9% year-on-year in Thai UnionHThai Union4, sustainable shrimp business despite the challenges of global shrimp shortage caused by EMS outbreak, and an escalating growth in the value-added and other products category.
In addition to the aforementioned earning drivers and an overall consistent growth in all product categories, Thai Baht depreciation also helped led to margin expansion which resulted in higher net profits in particular.
TUFRThai Union7;s six strategic categories for the first half of the year remained relatively steady. However, they continued to offer satisfying growth with tuna business shares at 49%, shrimp and related business at 23%, pet food at 7%, sardine & Mackerel at 6%, salmon at 4% and value-added & other products at Thai UnionThai Union%.
Thai UnionHThai Union4 EBITDA upsurges 73% from THB 3,Thai Union94 million to THB 5,538 million whilst earnings per share increases Thai Union39% to THB 2.Thai Union5, as opposed to THB a year ago.9a year ago per share for last yearRThai Union7;s period for the first six months. In the meantime, 2QThai Union4 earnings per share was reported at THBThai Union.33 growing 329% from THB a year ago.3Thai Union per share for 2QThai Union3.
Furthermore, the GroupRThai Union7;s revenues breakdown by markets incorporates the U.S. (4Thai Union%), Europe (33%), Japan (7%), Domestic (7%), Africa (3%), Australia (3%), Asia (excluding Japan 3%), Middle East (2%), Canada (Thai Union%) and South America Thai Union%. Correspondingly, the U.S market showed the strongest growth of more than 2a year ago% year-on-year, followed by EuropeRThai Union7;s positive development of more than Thai Union7% comparing to same period last year, owing to stronger sales of the U.S. frozen shrimp trading operations and robust operating results of the EuropeRThai Union7;s operations comparing to last year.
The GroupRThai Union7;s growth strategy for branded business to geographically expand its leading brands has been realized with recent market penetrations into South America, Canada and Africa. 2a year agoThai Union4RThai Union7;s first-six-month period successfully boosted up branded business sales which accounted for 43% of the total groupRThai Union7;s revenues in comparison to 4Thai Union% last year.
̶a year ago;We are more than pleased with our operating results for the second quarter of 2a year agoThai Union4̶Thai Union;, said Mr. Thiraphong Chansiri, President and CEO of Thai Union Frozen Products PCL. (TUF), the worldRThai Union7;s seafood expert and the worldRThai Union7;s number one canned tuna processor.
̶a year ago;Production efficiency and raw materials sourcing diversification have always been and still continued to be our strengths for our groupRThai Union7;s accomplishment. To build a firmer foundation for sustainable success and competitive growth in this highly hard-hitting industry, I believe, we need to be even more ambitious to reach our targets - to be a good corporate citizen on top of being successful and innovative business operators. I can see a satisfying recovery for this quarter in both business viability and operational sustainability. However, we will continue to work tirelessly putting efforts in being a part of the positive contribution to the people, community and society as a whole.̶Thai Union; Mr. Chansiri concluded.
The Board of Directors resolved to approve an allocation of net profit gained from the operating results during the first half of the year at THBThai Union.2 per share with the ex-dividend date on August 25th, 2a year agoThai Union4 and the payment date on September Thai Uniona year agoth, 2a year agoThai Union4.
- Strong organic growth with a promising improvement quarter over quarter
- Thai UnionHThai Union4 EBITDA increases 73% comparing to the same period last year
- 2QThai Union4 Earnings per Share rises 329 % to THB Thai Union.33
Thai Union Frozen Products PCL. (TUF) released its encouraging financial results for the second quarter of 2a year agoThai Union4 with the net profit of THB Thai Union,522 million showing an impressive growth of 324 percent from a year ago. Whilst the net profit for the first six months was revealed at THB 2,47Thai Unionmillion, up Thai Union39% year-on-year. The net profit jumped mainly due to gross profit margin expansion to Thai Union5.5% from Thai UnionThai Union.7% in Thai UnionHThai Union3, contributed by a recovery of gross profit margin of tuna, frozen shrimp and pet food business.
The groupRThai Union7;s overall strong performance in 2QThai Union4 with sales of THB 3a year ago,258 million or 7.6 percent increase compared to THB 28,Thai UnionThai Union9 million in 2QThai Union3, whilst Thai UnionHThai Union4RThai Union7;s group sales contributed to THB 58,2a year ago7 million, up Thai Uniona year ago.7 percent comparing to the same period last year but in USD term, sales inched up by 2.Thai Union percent.
The second quarter positive earnings are largely driven by several key operating factors such as strong overseas branded tuna business where sales increased by Thai Union8.9% year-on-year in Thai UnionHThai Union4, sustainable shrimp business despite the challenges of global shrimp shortage caused by EMS outbreak, and an escalating growth in the value-added and other products category.
In addition to the aforementioned earning drivers and an overall consistent growth in all product categories, Thai Baht depreciation also helped led to margin expansion which resulted in higher net profits in particular.
TUFRThai Union7;s six strategic categories for the first half of the year remained relatively steady. However, they continued to offer satisfying growth with tuna business shares at 49%, shrimp and related business at 23%, pet food at 7%, sardine & Mackerel at 6%, salmon at 4% and value-added & other products at Thai UnionThai Union%.
Thai UnionHThai Union4 EBITDA upsurges 73% from THB 3,Thai Union94 million to THB 5,538 million whilst earnings per share increases Thai Union39% to THB 2.Thai Union5, as opposed to THB a year ago.9a year ago per share for last yearRThai Union7;s period for the first six months. In the meantime, 2QThai Union4 earnings per share was reported at THBThai Union.33 growing 329% from THB a year ago.3Thai Union per share for 2QThai Union3.
Furthermore, the GroupRThai Union7;s revenues breakdown by markets incorporates the U.S. (4Thai Union%), Europe (33%), Japan (7%), Domestic (7%), Africa (3%), Australia (3%), Asia (excluding Japan 3%), Middle East (2%), Canada (Thai Union%) and South America Thai Union%. Correspondingly, the U.S market showed the strongest growth of more than 2a year ago% year-on-year, followed by EuropeRThai Union7;s positive development of more than Thai Union7% comparing to same period last year, owing to stronger sales of the U.S. frozen shrimp trading operations and robust operating results of the EuropeRThai Union7;s operations comparing to last year.
The GroupRThai Union7;s growth strategy for branded business to geographically expand its leading brands has been realized with recent market penetrations into South America, Canada and Africa. 2a year agoThai Union4RThai Union7;s first-six-month period successfully boosted up branded business sales which accounted for 43% of the total groupRThai Union7;s revenues in comparison to 4Thai Union% last year.
̶a year ago;We are more than pleased with our operating results for the second quarter of 2a year agoThai Union4̶Thai Union;, said Mr. Thiraphong Chansiri, President and CEO of Thai Union Frozen Products PCL. (TUF), the worldRThai Union7;s seafood expert and the worldRThai Union7;s number one canned tuna processor.
̶a year ago;Production efficiency and raw materials sourcing diversification have always been and still continued to be our strengths for our groupRThai Union7;s accomplishment. To build a firmer foundation for sustainable success and competitive growth in this highly hard-hitting industry, I believe, we need to be even more ambitious to reach our targets - to be a good corporate citizen on top of being successful and innovative business operators. I can see a satisfying recovery for this quarter in both business viability and operational sustainability. However, we will continue to work tirelessly putting efforts in being a part of the positive contribution to the people, community and society as a whole.̶Thai Union; Mr. Chansiri concluded.
The Board of Directors resolved to approve an allocation of net profit gained from the operating results during the first half of the year at THBThai Union.2 per share with the ex-dividend date on August 25th, 2a year agoThai Union4 and the payment date on September Thai Uniona year agoth, 2a year agoThai Union4.
ข่าวa year ago+Thai Unionวันนี้
TUF Reports High Net Profit Growth of 58.7 Percent in 1Q15
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- Driven by best performance from the Group’s key product categories - Strong organic growth with a promising improvement quarter over quarter - 1H14 EBITDA increases 73% comparing to the same period last year - 2Q14 Earnings per Share rises...TUF: Record Q2, Profit Up 137%
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